Discover Financial Services (NYSE:DFS) Given New $129.00 Price Target at JPMorgan Chase & Co.

Discover Financial Services (NYSE:DFS) had its price target lowered by JPMorgan Chase & Co. from $169.00 to $129.00 in a report published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the financial services provider’s stock.

DFS has been the topic of several other research reports. Truist Financial dropped their price objective on Discover Financial Services from $262.00 to $219.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Keefe, Bruyette & Woods boosted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and raised their target price for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Wells Fargo & Company lifted their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research note on Friday, January 24th. Finally, StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, April 2nd. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $188.40.

Discover Financial Services Trading Down 1.9 %

NYSE:DFS opened at $148.07 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 1-year low of $119.31 and a 1-year high of $205.76. The firm has a market capitalization of $37.26 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 1.51 and a beta of 1.20. The business’s 50-day moving average price is $178.26 and its two-hundred day moving average price is $171.35.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. On average, equities analysts expect that Discover Financial Services will post 13.88 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.89%. Discover Financial Services’s dividend payout ratio is 17.54%.

Institutional Trading of Discover Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of DFS. Rhumbline Advisers grew its stake in Discover Financial Services by 4.9% in the first quarter. Rhumbline Advisers now owns 532,949 shares of the financial services provider’s stock valued at $90,974,000 after purchasing an additional 24,707 shares in the last quarter. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Discover Financial Services by 119.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 6,787 shares of the financial services provider’s stock valued at $1,159,000 after buying an additional 3,694 shares during the last quarter. J2 Capital Management Inc bought a new position in shares of Discover Financial Services in the first quarter valued at $368,000. Rothschild Investment LLC increased its holdings in Discover Financial Services by 3.9% during the first quarter. Rothschild Investment LLC now owns 2,923 shares of the financial services provider’s stock worth $499,000 after buying an additional 111 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in Discover Financial Services by 4.1% during the first quarter. Parallel Advisors LLC now owns 7,175 shares of the financial services provider’s stock worth $1,225,000 after acquiring an additional 281 shares in the last quarter. Institutional investors and hedge funds 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; 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.