Barclays Increases Discover Financial Services (NYSE:DFS) Price Target to $123.00

Discover Financial Services (NYSE:DFS) had its price objective upped by Barclays from $120.00 to $123.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the financial services provider’s stock.

Other analysts have also recently issued research reports about the stock. BMO Capital Markets lowered their price objective on shares of Discover Financial Services from $116.00 to $104.00 and set a market perform rating on the stock in a research report on Monday, January 22nd. Evercore ISI raised their price objective on shares of Discover Financial Services from $117.00 to $140.00 and gave the company an in-line rating in a research report on Thursday, February 22nd. StockNews.com assumed coverage on shares of Discover Financial Services in a research report on Thursday. They set a hold rating on the stock. HSBC increased their target price on shares of Discover Financial Services from $107.00 to $144.00 and gave the company a hold rating in a report on Thursday, March 21st. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $140.00 target price (up previously from $117.00) on shares of Discover Financial Services in a report on Wednesday, February 21st. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Discover Financial Services currently has a consensus rating of Hold and an average target price of $125.94.

Discover Financial Services Stock Performance

NYSE DFS opened at $125.35 on Friday. Discover Financial Services has a 1 year low of $79.04 and a 1 year high of $131.65. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.05 and a quick ratio of 1.13. The stock has a market capitalization of $31.41 billion, a PE ratio of 14.29, a P/E/G ratio of 0.88 and a beta of 1.45. The company’s 50 day simple moving average is $122.02 and its two-hundred day simple moving average is $105.90.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($1.88). The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. During the same quarter last year, the business posted $3.58 EPS. Analysts predict that Discover Financial Services will post 11.23 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 23rd will be given a $0.70 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.23%. Discover Financial Services’s dividend payout ratio is 31.93%.

Insider Transactions at Discover Financial Services

In related news, CFO John Greene sold 35,191 shares of Discover Financial Services stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $106.51, for a total transaction of $3,748,193.41. Following the completion of the transaction, the chief financial officer now directly owns 18,592 shares of the company’s stock, valued at approximately $1,980,233.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.69% of the company’s stock.

Institutional Investors Weigh In On Discover Financial Services

Hedge funds have recently bought and sold shares of the business. Dagco Inc. bought a new stake in Discover Financial Services during the fourth quarter worth about $25,000. Partnership Wealth Management LLC bought a new stake in Discover Financial Services during the fourth quarter worth about $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Discover Financial Services in the fourth quarter worth approximately $28,000. Riverview Trust Co bought a new position in shares of Discover Financial Services in the first quarter worth approximately $34,000. Finally, MeadowBrook Investment Advisors LLC bought a new position in shares of Discover Financial Services in the fourth quarter worth approximately $31,000. Institutional investors own 86.94% of the company’s stock.

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.