Stephens set a $73.00 price target on Discover Financial Services (NYSE:DFS) in a report issued on Tuesday, January 2nd. The brokerage currently has a sell rating on the financial services provider’s stock.
Several other research analysts have also weighed in on DFS. Morgan Stanley cut their price objective on shares of Discover Financial Services from $71.00 to $70.00 and set an overweight rating on the stock in a report on Friday, September 8th. BMO Capital Markets cut their price objective on shares of Discover Financial Services from $69.00 to $67.00 and set a market perform rating on the stock in a report on Wednesday, October 25th. Zacks Investment Research upgraded shares of Discover Financial Services from a sell rating to a hold rating in a research note on Tuesday, September 12th. Bank of America raised shares of Discover Financial Services from a neutral rating to a buy rating and set a $83.00 price target for the company in a research report on Monday, December 18th. Finally, Royal Bank of Canada reaffirmed a buy rating and issued a $86.00 price objective on shares of Discover Financial Services in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $80.67.
Shares of Discover Financial Services (DFS) opened at $79.47 on Tuesday. Discover Financial Services has a 12 month low of $57.50 and a 12 month high of $79.91. The stock has a market cap of $28,880.00, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.80 and a beta of 1.52. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.52.
In other news, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $76.74, for a total transaction of $2,302,200.00. Following the transaction, the chief executive officer now owns 1,409,912 shares of the company’s stock, valued at $108,196,646.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO R. Mark Graf sold 16,503 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $66.67, for a total value of $1,100,255.01. Following the transaction, the chief financial officer now directly owns 82,402 shares in the company, valued at approximately $5,493,741.34. The disclosure for this sale can be found here. Insiders sold 179,277 shares of company stock valued at $12,673,925 over the last 90 days. 0.96% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in DFS. Diamond Hill Capital Management Inc. grew its holdings in shares of Discover Financial Services by 97.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 7,035,035 shares of the financial services provider’s stock worth $453,619,000 after buying an additional 3,475,126 shares in the last quarter. NorthCoast Asset Management LLC bought a new position in Discover Financial Services in the second quarter valued at approximately $1,535,000. TD Asset Management Inc. grew its stake in Discover Financial Services by 71.9% in the third quarter. TD Asset Management Inc. now owns 1,975,814 shares of the financial services provider’s stock valued at $127,401,000 after purchasing an additional 826,606 shares in the last quarter. Stifel Financial Corp grew its stake in Discover Financial Services by 5.8% in the second quarter. Stifel Financial Corp now owns 1,250,428 shares of the financial services provider’s stock valued at $77,758,000 after purchasing an additional 68,942 shares in the last quarter. Finally, Sciencast Management LP bought a new position in Discover Financial Services in the second quarter valued at approximately $373,000. 84.77% of the stock is currently owned by hedge funds and other institutional investors.
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About Discover Financial Services
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
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