Discover Financial Services (NYSE: DFS) had its price target lowered by Bank of America research analysts from $128.00 to $120.00 in a research note released to investors on Sunday, reports The Fly. Bank of America’s target price would suggest a potential upside of 20.00% from the stock’s previous close.
A number of other equity research analysts have also recently commented on the stock. Barclays lowered its price target on shares of Discover Financial Services from $140.00 to $133.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating and lowered its target price for the company from $140.00 to $115.00 in a report on Friday. Piper Sandler raised her target price on shares of Discover Financial Services to $132.00 in a report released Friday. Credit Suisse Group lowered its target price on shares of Discover Financial Services to $134.00 in a report on Friday. Finally, Morgan Stanley cut its price target on shares of Discover Financial Services from $111.00 to $104.00 and set an “equal weight” rating for the company in a research report on Friday. Seven equity research analysts gave the stock a hold rating and nine gave the company a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $127.56.
Discover the price performance of financial services
DFS stock was flat at $100.00 during midday trading on Friday. The company’s shares had a trading volume of 2,633,650 shares, compared to its average volume of 2,032,214. The company has a market capitalization of $28.10 billion, a PE ratio of 6.51, a growth price/earnings ratio of 0.23 and a beta of 1.48. The company has a current ratio of 1.09, a quick ratio of 1.26 and a debt ratio of 1.38. Discover Financial Services has a fifty-two week minimum of $88.02 and a fifty-two week maximum of $135.69. The company has a fifty-day simple moving average of $102.15 and a 200-day simple moving average of $110.92.
Discover Financial Services (NYSE:DFS – Get Rating) last released its quarterly results on Wednesday, July 20. The financial services provider reported earnings per share (EPS) of $3.96 for the quarter, beating consensus analyst estimates of $3.77 by $0.19. The company posted revenue of $3.22 billion in the quarter, versus a consensus estimate of $3.18 billion. Discover Financial Services recorded a return on equity of 35.59% and a net margin of 34.89%. The company’s quarterly revenue was down 9.9% year over year. In the same quarter of the previous year, the company achieved EPS of $5.55. On average, analysts expect Discover Financial Services to post EPS of 14.93 for the current fiscal year.
Hedge funds weigh on Discover Financial Services
Institutional investors have recently been buying and selling shares of the stock. Oppenheimer Asset Management Inc. increased its holdings in Discover Financial Services by 7.3% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 30,565 shares of the financial services provider worth $3,532,000 after purchasing an additional 2,091 shares during the period. Greenleaf Trust increased its holdings in Discover Financial Services by 15.4% in the first quarter. Greenleaf Trust now owns 4,334 shares of the financial services provider worth $478,000 after purchasing an additional 579 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Discover Financial Services by 0.8% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,299,737 shares of the financial services provider worth $150,197,000 after purchasing an additional 10,603 shares during the period. AlphaCentric Advisors LLC acquired a new stake in Discover Financial Services in the fourth quarter worth approximately $85,000. Finally, Nomura Asset Management Co. Ltd. increased its stake in Discover Financial Services by 1.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 64,836 shares of the financial services provider worth $7,492,000 after purchasing an additional 1,224 shares during the period. 85.53% of the shares are held by institutional investors.
Discover the profile of the financial services company
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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 loans; and direct-to-consumer deposit products including savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings and checking accounts, and money transfer accounts.
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