Credit Suisse Group Raises Discover Financial Services (DFS) Price Target to $95.00

Discover Financial Services (NYSE:DFS) had its price target upped by equities research analysts at Credit Suisse Group from $91.00 to $95.00 in a report released on Thursday. The firm currently has an “outperform” rating on the financial services provider’s stock. Credit Suisse Group’s price objective indicates a potential upside of 18.31% from the company’s previous close.

A number of other brokerages also recently commented on DFS. Barclays set a $95.00 target price on Discover Financial Services and gave the company a “buy” rating in a research note on Friday, January 12th. Jefferies Group restated a “buy” rating and issued a $91.00 target price on shares of Discover Financial Services in a research note on Thursday, January 11th. BMO Capital Markets decreased their target price on Discover Financial Services from $97.00 to $93.00 and set a “market perform” rating for the company in a research note on Thursday. Wells Fargo & Co lifted their target price on Discover Financial Services from $83.00 to $84.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Royal Bank of Canada restated a “buy” rating and issued a $107.00 target price on shares of Discover Financial Services in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $85.04.

Shares of Discover Financial Services (NYSE:DFS) traded up $1.56 during mid-day trading on Thursday, reaching $80.30. The company’s stock had a trading volume of 3,048,228 shares, compared to its average volume of 2,393,147. 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 $81.25. The firm has a market capitalization of $29,180.00, a P/E ratio of 13.82, a P/E/G ratio of 1.28 and a beta of 1.52.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Tuesday, October 24th. The financial services provider reported $1.59 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.06. Discover Financial Services had a return on equity of 21.01% and a net margin of 20.04%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $1.87 billion. analysts anticipate that Discover Financial Services will post 5.94 earnings per share for the current fiscal year.

In related news, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $66.80, for a total transaction of $2,004,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Roger C. Hochschild sold 15,258 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $66.79, for a total value of $1,019,081.82. Following the sale, the chief operating officer now directly owns 769,440 shares in the company, valued at approximately $51,390,897.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,277 shares of company stock worth $12,673,925. Corporate insiders own 0.96% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Boston Partners raised its holdings in Discover Financial Services by 4.6% during the third quarter. Boston Partners now owns 12,187,219 shares of the financial services provider’s stock worth $785,833,000 after purchasing an additional 538,244 shares in the last quarter. Capital World Investors raised its holdings in Discover Financial Services by 18.3% during the second quarter. Capital World Investors now owns 10,578,342 shares of the financial services provider’s stock worth $657,867,000 after purchasing an additional 1,638,334 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings 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 purchasing an additional 3,475,126 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Discover Financial Services by 84.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,904,200 shares of the financial services provider’s stock worth $380,703,000 after buying an additional 2,698,700 shares during the last quarter. Finally, Epoch Investment Partners Inc. grew its position in Discover Financial Services by 16.8% in the third quarter. Epoch Investment Partners Inc. now owns 3,091,274 shares of the financial services provider’s stock worth $199,326,000 after buying an additional 444,325 shares during the last quarter. 84.72% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)