Shares of Discover Financial Services (NYSE:DFS) have been assigned an average recommendation of “Hold” from the fourteen analysts that are currently covering the stock, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $113.13.
Several analysts have recently weighed in on DFS shares. Wolfe Research raised shares of Discover Financial Services from a “peer perform” rating to an “outperform” rating and set a $104.00 price target for the company in a research note on Thursday, August 24th. Citigroup cut their price objective on shares of Discover Financial Services from $119.00 to $108.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. Royal Bank of Canada dropped their price objective on shares of Discover Financial Services from $142.00 to $130.00 and set an “outperform” rating on the stock in a report on Friday, July 21st. Stephens reissued an “equal weight” rating and set a $116.00 price objective on shares of Discover Financial Services in a report on Tuesday, August 15th. Finally, Piper Sandler lowered shares of Discover Financial Services from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $130.00 to $112.00 in a report on Friday, July 21st.
View Our Latest Stock Analysis on Discover Financial Services
Discover Financial Services Stock Performance
Discover Financial Services (NYSE:DFS – Get Free Report) last posted its quarterly earnings results on Thursday, July 20th. The financial services provider reported $3.54 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.16). Discover Financial Services had a net margin of 21.51% and a return on equity of 29.65%. The company had revenue of $3.88 billion for the quarter, compared to the consensus estimate of $3.88 billion. During the same period in the prior year, the firm posted $3.96 EPS. The business’s revenue was up 20.7% on a year-over-year basis. As a group, equities analysts forecast that Discover Financial Services will post 12.95 earnings per share for the current year.
Discover Financial Services Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Thursday, August 24th were paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Wednesday, August 23rd. Discover Financial Services’s payout ratio is currently 19.40%.
Institutional Investors Weigh In On Discover Financial Services
Several hedge funds have recently modified their holdings of DFS. Adirondack Retirement Specialists Inc. purchased a new stake in shares of Discover Financial Services during the 1st quarter worth about $26,000. Sandy Spring Bank boosted its stake in shares of Discover Financial Services by 133.3% during the 4th quarter. Sandy Spring Bank now owns 273 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 156 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Discover Financial Services during the 4th quarter worth about $31,000. Horizon Bancorp Inc. IN boosted its stake in shares of Discover Financial Services by 76.1% during the 1st quarter. Horizon Bancorp Inc. IN now owns 347 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Finally, Compass Wealth Management LLC purchased a new position in Discover Financial Services in the 4th quarter valued at about $34,000. 83.63% of the stock is owned by hedge funds and other institutional investors.
About Discover Financial Services
Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services 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; private student loans, personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.
Featured Articles
- Five stocks we like better than Discover Financial Services
- Airline Stocks – Top Airline Stocks to Buy Now
- WeWork Stock Soars: Meme Stock Madness or Mirage?
- NYSE Stocks Give Investors a Variety of Quality Options
- Shutterstock is the Value Stock they don’t want you to know about
- Crypto vs Stocks: How to Choose Your Investments
- 3 Low-Cost ETFs That Are Crushing SPY
Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.
