Discover Financial Services (NYSE:DFS) Sets New 1-Year High at $132.77

Shares of Discover Financial Services (NYSE:DFS) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $132.77 and last traded at $132.59, with a volume of 49762 shares. The stock had previously closed at $130.81.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Jefferies Financial Group lifted their price objective on Discover Financial Services from $137.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, April 19th. BTIG Research began coverage on shares of Discover Financial Services in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Seaport Res Ptn lowered shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. raised their target price on shares of Discover Financial Services from $110.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 3rd. Finally, Barclays raised their target price on shares of Discover Financial Services from $120.00 to $123.00 and gave the stock an “equal weight” rating in a research note on Friday, April 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $126.29.

Discover Financial Services Trading Up 0.5 %

The company has a market cap of $33.50 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.50. The business has a 50-day simple moving average of $124.94 and a 200-day simple moving average of $119.04.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The firm had revenue of $4.21 billion during 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 17.07%. During the same period in the previous year, the firm earned $3.58 EPS. On average, analysts predict that Discover Financial Services will post 11.47 EPS for the current fiscal year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 6th. Shareholders of record on Thursday, May 23rd were paid a $0.70 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.10%. Discover Financial Services’s dividend payout ratio (DPR) is 31.93%.

Hedge Funds Weigh In On Discover Financial Services

Several institutional investors have recently modified their holdings of the business. Ballentine Partners LLC grew its stake in shares of Discover Financial Services by 3.1% in the first quarter. Ballentine Partners LLC now owns 2,888 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 86 shares in the last quarter. Team Hewins LLC grew its stake in shares of Discover Financial Services by 5.5% in the first quarter. Team Hewins LLC now owns 1,887 shares of the financial services provider’s stock worth $247,000 after acquiring an additional 98 shares in the last quarter. Wealthspire Advisors LLC grew its stake in shares of Discover Financial Services by 3.3% in the fourth quarter. Wealthspire Advisors LLC now owns 3,121 shares of the financial services provider’s stock worth $351,000 after acquiring an additional 99 shares in the last quarter. Eagle Bluffs Wealth Management LLC grew its stake in shares of Discover Financial Services by 0.8% in the first quarter. Eagle Bluffs Wealth Management LLC now owns 14,382 shares of the financial services provider’s stock worth $1,885,000 after acquiring an additional 108 shares in the last quarter. Finally, Simon Quick Advisors LLC grew its stake in shares of Discover Financial Services by 1.7% in the fourth quarter. Simon Quick Advisors LLC now owns 6,397 shares of the financial services provider’s stock worth $719,000 after acquiring an additional 109 shares in the last quarter. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Company Profile

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.