Discover Financial Services (NYSE:DFS) PT Raised to $97.00 at Piper Sandler


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Discover Financial Services (NYSE:DFS) had its price target raised by analysts at Piper Sandler from $94.00 to $97.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target points to a potential downside of 1.82% from the company’s current price.

A number of other research firms have also issued reports on DFS. Morgan Stanley upped their price target on Discover Financial Services from $107.00 to $108.00 and gave the company an “equal weight” rating in a research report on Friday, January 22nd. Wells Fargo & Company upped their price target on Discover Financial Services from $105.00 to $111.00 and gave the company an “equal weight” rating in a research report on Monday, March 22nd. Deutsche Bank Aktiengesellschaft upped their price target on Discover Financial Services from $104.00 to $110.00 and gave the company a “hold” rating in a research report on Friday, January 22nd. BMO Capital Markets increased their price objective on Discover Financial Services from $100.00 to $101.00 and gave the stock an “outperform” rating in a research report on Friday, January 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Discover Financial Services from $72.00 to $114.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $90.00.

Shares of Discover Financial Services stock opened at $98.80 on Thursday. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50 day simple moving average of $96.52 and a two-hundred day simple moving average of $83.24. The stock has a market capitalization of $30.27 billion, a P/E ratio of 30.40, a PEG ratio of 4.21 and a beta of 1.80. Discover Financial Services has a 12 month low of $31.09 and a 12 month high of $104.49.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Tuesday, January 19th. The financial services provider reported $2.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.42 by $0.17. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.81 billion. Discover Financial Services had a return on equity of 11.00% and a net margin of 7.89%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.25 earnings per share. As a group, research analysts anticipate that Discover Financial Services will post 3.26 EPS for the current fiscal year.

In other news, EVP Brian Hughes sold 10,000 shares of the stock in a transaction on Monday, February 8th. The stock was sold at an average price of $93.91, for a total value of $939,100.00. Following the sale, the executive vice president now directly owns 56,620 shares in the company, valued at $5,317,184.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Carlos Minetti sold 19,260 shares of the stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $88.00, for a total value of $1,694,880.00. Following the completion of the sale, the executive vice president now owns 147,293 shares in the company, valued at $12,961,784. The disclosure for this sale can be found here. Company insiders own 0.55% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Everence Capital Management Inc. acquired a new stake in shares of Discover Financial Services in the first quarter valued at $743,000. TrimTabs Asset Management LLC acquired a new stake in shares of Discover Financial Services in the first quarter valued at $428,000. Midwest Professional Planners LTD. raised its stake in shares of Discover Financial Services by 274.4% in the fourth quarter. Midwest Professional Planners LTD. now owns 10,800 shares of the financial services provider’s stock valued at $978,000 after acquiring an additional 7,915 shares in the last quarter. SOA Wealth Advisors LLC. acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at $30,000. Finally, Childress Capital Advisors LLC acquired a new stake in shares of Discover Financial Services in the fourth quarter valued at $281,000. Institutional investors and hedge funds own 84.67% of the company’s stock.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts, checking accounts, and sweep accounts.

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Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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