Truist Financial Cuts Discover Financial Services (NYSE:DFS) Price Target to $219.00

Discover Financial Services (NYSE:DFS) had its target price reduced by Truist Financial from $262.00 to $219.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

Several other research firms have also weighed in on DFS. JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $146.00 to $169.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Barclays lifted their price objective on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Royal Bank of Canada lifted their price objective on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report on Friday, January 24th. Finally, UBS Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $192.40.

Discover Financial Services Stock Up 0.3 %

Shares of DFS opened at $164.90 on Friday. The company has a market capitalization of $41.49 billion, a PE ratio of 10.33, a PEG ratio of 1.51 and a beta of 1.45. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76. The stock’s 50-day moving average price is $186.18 and its two-hundred day moving average price is $169.10. 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 (NYSE:DFS) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. On average, analysts anticipate that Discover Financial Services will post 13.88 EPS for the current year.

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services’s payout ratio is currently 17.54%.

Institutional Trading of Discover Financial Services

Several hedge funds have recently bought and sold shares of DFS. Point72 Asia Singapore Pte. Ltd. purchased a new position in Discover Financial Services during the 3rd quarter worth $30,000. SBI Securities Co. Ltd. purchased a new position in Discover Financial Services during the 4th quarter worth $33,000. Flagship Wealth Advisors LLC purchased a new position in Discover Financial Services during the 4th quarter worth $34,000. Mattson Financial Services LLC purchased a new position in Discover Financial Services during the 4th quarter worth $34,000. Finally, Grove Bank & Trust boosted its holdings in Discover Financial Services by 78.1% during the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during 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; 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.