Discover Financial Services (NYSE:DFS) has been assigned an average recommendation of “Buy” from the nineteen brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $60.64.
A number of research firms recently issued reports on DFS. BMO Capital Markets upgraded Discover Financial Services from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $55.00 to $52.00 in a research note on Thursday, May 14th. Imperial Capital reiterated an “outperform” rating and set a $32.00 price objective (down from $34.00) on shares of Discover Financial Services in a research note on Tuesday, March 17th. Oppenheimer began coverage on Discover Financial Services in a research note on Thursday, April 23rd. They set a “hold” rating on the stock. Royal Bank of Canada boosted their price objective on Discover Financial Services from $42.00 to $61.00 in a research note on Wednesday, June 3rd. Finally, ValuEngine upgraded Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Thursday, June 4th.
Shares of DFS traded down $3.39 during mid-day trading on Friday, hitting $48.67. The stock had a trading volume of 7,255,244 shares, compared to its average volume of 5,972,566. The firm has a market cap of $15.95 billion, a P/E ratio of 7.29, a PEG ratio of 4.45 and a beta of 1.87. The business has a fifty day moving average price of $48.44 and a 200-day moving average price of $59.47. The company has a debt-to-equity ratio of 2.87, a current ratio of 1.26 and a quick ratio of 1.26. Discover Financial Services has a 52 week low of $23.25 and a 52 week high of $92.98.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date was Wednesday, May 20th. Discover Financial Services’s payout ratio is currently 19.38%.
In other news, EVP Robert Andrew Eichfeld acquired 12,650 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average cost of $39.50 per share, for a total transaction of $499,675.00. Following the acquisition, the executive vice president now owns 33,454 shares of the company’s stock, valued at $1,321,433. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.55% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of DFS. Capital World Investors boosted its holdings in Discover Financial Services by 2.6% during the 4th quarter. Capital World Investors now owns 23,708,462 shares of the financial services provider’s stock valued at $2,010,951,000 after acquiring an additional 595,190 shares during the period. BlackRock Inc. boosted its holdings in Discover Financial Services by 0.7% during the 1st quarter. BlackRock Inc. now owns 21,489,597 shares of the financial services provider’s stock valued at $766,534,000 after acquiring an additional 142,220 shares during the period. FMR LLC boosted its holdings in Discover Financial Services by 7.0% during the 4th quarter. FMR LLC now owns 9,134,032 shares of the financial services provider’s stock valued at $774,749,000 after acquiring an additional 594,038 shares during the period. JPMorgan Chase & Co. boosted its holdings in Discover Financial Services by 42.6% during the 1st quarter. JPMorgan Chase & Co. now owns 7,155,617 shares of the financial services provider’s stock valued at $255,242,000 after acquiring an additional 2,138,282 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Discover Financial Services by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 5,168,009 shares of the financial services provider’s stock valued at $437,654,000 after acquiring an additional 304,935 shares during the period. Hedge funds and other institutional investors own 82.82% of the company’s stock.
About Discover Financial Services
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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