Discover Financial Services (NYSE:DFS) had its target price dropped by equities research analysts at Royal Bank of Canada to $100.00 in a research report issued on Thursday, The Fly reports. The brokerage presently has a “top pick” rating on the financial services provider’s stock. Royal Bank of Canada’s target price indicates a potential upside of 24.95% from the stock’s current price.
Other equities analysts also recently issued reports about the stock. BMO Capital Markets dropped their target price on shares of Discover Financial Services from $97.00 to $93.00 and set a “market perform” rating for the company in a report on Thursday. Wells Fargo & Co raised their price target on shares of Discover Financial Services from $83.00 to $84.00 and gave the stock a “market perform” rating in a research note on Thursday. Credit Suisse Group raised their price target on shares of Discover Financial Services from $91.00 to $95.00 and gave the stock an “outperform” rating in a research note on Thursday. Morgan Stanley raised their target price on shares of Discover Financial Services from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Discover Financial Services from $82.50 to $82.00 and set a “neutral” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $83.78.
Shares of Discover Financial Services (NYSE DFS) traded up $1.29 during trading hours on Thursday, reaching $80.03. 1,551,791 shares of the company were exchanged, compared to its average volume of 2,352,144. The firm has a market cap of $29,050.00, a PE ratio of 13.77, a P/E/G ratio of 1.28 and a beta of 1.52. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.55. Discover Financial Services has a 12-month low of $57.50 and a 12-month high of $81.23.
In other news, CFO R. Mark Graf sold 16,503 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $66.67, for a total value of $1,100,255.01. Following the completion of the sale, the chief financial officer now directly owns 82,402 shares of the company’s stock, valued at $5,493,741.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $66.80, for a total value of $2,004,000.00. The disclosure for this sale can be found here. Insiders sold 179,277 shares of company stock valued at $12,673,925 in the last ninety days. Corporate insiders own 0.96% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of DFS. Diamond Hill Capital Management Inc. raised its stake in Discover Financial Services by 97.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,035,035 shares of the financial services provider’s stock worth $453,619,000 after acquiring an additional 3,475,126 shares in the last quarter. TD Asset Management Inc. boosted its holdings in Discover Financial Services by 71.9% in the third quarter. TD Asset Management Inc. now owns 1,975,814 shares of the financial services provider’s stock valued at $127,401,000 after acquiring an additional 826,606 shares during the last quarter. Sciencast Management LP bought a new position in Discover Financial Services in the second quarter valued at about $373,000. Wasatch Advisors Inc. boosted its holdings in Discover Financial Services by 24.3% during the third quarter. Wasatch Advisors Inc. now owns 16,352 shares of the financial services provider’s stock worth $1,054,000 after buying an additional 3,200 shares during the last quarter. Finally, Investec Asset Management LTD boosted its holdings in Discover Financial Services by 26.7% during the third quarter. Investec Asset Management LTD now owns 239,187 shares of the financial services provider’s stock worth $15,423,000 after buying an additional 50,412 shares during the last quarter. Institutional investors and hedge funds own 84.72% of the company’s stock.
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Discover Financial Services Company Profile
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
