JPMorgan Chase & Co. Increases Discover Financial Services (NYSE:DFS) Price Target to $150.00

Discover Financial Services (NYSE:DFS) had its price objective upped by research analysts at JPMorgan Chase & Co. from $135.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price points to a potential downside of 14.67% from the company’s previous close.

A number of other equities analysts have also issued reports on DFS. StockNews.com lowered shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods upped their price objective on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a report on Monday. Evercore ISI increased their price objective on Discover Financial Services from $156.00 to $163.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on Discover Financial Services from $148.00 to $161.00 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company raised their price target on Discover Financial Services from $152.00 to $160.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $146.13.

Discover Financial Services Trading Down 0.6 %

Shares of DFS opened at $175.78 on Monday. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.04 and a current ratio of 1.08. The company has a market cap of $44.13 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 1.14 and a beta of 1.45. The stock has a fifty day moving average price of $161.42 and a two-hundred day moving average price of $142.13. Discover Financial Services has a 52-week low of $96.46 and a 52-week high of $188.26.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.28 by $0.41. The business had revenue of $5.91 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same period in the previous year, the business posted $2.59 earnings per share. Analysts predict that Discover Financial Services will post 13.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Discover Financial Services

Hedge funds have recently modified their holdings of the business. National Pension Service increased its stake in Discover Financial Services by 14.8% during the 3rd quarter. National Pension Service now owns 439,756 shares of the financial services provider’s stock worth $61,693,000 after purchasing an additional 56,814 shares in the last quarter. William B. Walkup & Associates Inc. bought a new stake in shares of Discover Financial Services during the second quarter worth $4,835,000. Janney Montgomery Scott LLC bought a new stake in shares of Discover Financial Services during the third quarter worth $2,415,000. Versor Investments LP raised its holdings in shares of Discover Financial Services by 21.5% during the third quarter. Versor Investments LP now owns 75,963 shares of the financial services provider’s stock worth $10,657,000 after acquiring an additional 13,427 shares during the period. Finally, Raymond James & Associates lifted its position in Discover Financial Services by 12.7% in the 3rd quarter. Raymond James & Associates now owns 149,361 shares of the financial services provider’s stock valued at $20,954,000 after acquiring an additional 16,863 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.