JPMorgan Chase & Co. Boosts Discover Financial Services (NYSE:DFS) Price Target to $169.00

Discover Financial Services (NYSE:DFS) had its price objective upped by investment analysts at JPMorgan Chase & Co. from $146.00 to $169.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 16.17% from the company’s previous close.

Other equities research analysts have also issued reports about the company. Royal Bank of Canada increased their price target 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. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company upped their price target on shares of Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday. Truist Financial assumed coverage on shares of Discover Financial Services in a research report on Tuesday, January 7th. They issued a “buy” rating and a $233.00 price objective for the company. Finally, UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and upped their target price for the stock from $150.00 to $239.00 in a research report on Monday, January 13th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $180.57.

Discover Financial Services Stock Up 0.3 %

Shares of NYSE DFS opened at $201.59 on Friday. Discover Financial Services has a 52-week low of $101.71 and a 52-week high of $204.93. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.10. The business has a fifty day moving average of $178.82 and a two-hundred day moving average of $154.51. The stock has a market cap of $50.66 billion, a PE ratio of 12.63, a PEG ratio of 1.15 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating 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 27.52%. As a group, equities research analysts expect that Discover Financial Services will post 12.82 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in Discover Financial Services by 0.8% in the third quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock worth $1,472,771,000 after purchasing an additional 80,601 shares during the period. FMR LLC increased its position in shares of Discover Financial Services by 8.0% in the 3rd quarter. FMR LLC now owns 7,493,862 shares of the financial services provider’s stock valued at $1,051,314,000 after buying an additional 558,227 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Discover Financial Services by 0.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,834,705 shares of the financial services provider’s stock worth $257,391,000 after buying an additional 12,255 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Discover Financial Services by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,728,276 shares of the financial services provider’s stock worth $242,460,000 after acquiring an additional 7,751 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Discover Financial Services by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,063,980 shares of the financial services provider’s stock valued at $149,266,000 after acquiring an additional 4,594 shares during the period. 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; 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.