Discover Financial Services (NYSE:DFS) Given Buy Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their buy rating on shares of Discover Financial Services (NYSE:DFS) in a research note issued to investors on Tuesday, January 9th. Royal Bank of Canada currently has a $107.00 target price on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets cut their price target on Discover Financial Services from $69.00 to $67.00 and set a market perform rating for the company in a report on Wednesday, October 25th. Bank of America raised Discover Financial Services from a neutral rating to a buy rating and set a $83.00 price objective for the company in a research note on Monday, December 18th. Zacks Investment Research raised Discover Financial Services from a sell rating to a hold rating in a research note on Tuesday, September 12th. Wells Fargo & Co reaffirmed a market perform rating and issued a $83.00 price objective (up from $69.00) on shares of Discover Financial Services in a research note on Tuesday, January 9th. Finally, ValuEngine raised Discover Financial Services from a hold rating to a buy rating in a research note on Friday, December 1st. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Discover Financial Services has a consensus rating of Buy and an average target price of $85.52.

Shares of Discover Financial Services (NYSE:DFS) opened at $80.62 on Tuesday. The stock has a market capitalization of $28,997.77 and a PE ratio of 13.37. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.08. Discover Financial Services has a 1 year low of $57.50 and a 1 year high of $81.93.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 22nd will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $1.40 annualized dividend and a yield of 1.74%. Discover Financial Services’s dividend payout ratio (DPR) is 25.88%.

In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $70.15, for a total transaction of $2,104,500.00. Following the sale, the chief executive officer now owns 1,441,912 shares in the company, valued at approximately $101,150,126.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Roger C. Hochschild sold 15,258 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $70.54, for a total value of $1,076,299.32. Following the sale, the chief operating officer now owns 751,682 shares in the company, valued at approximately $53,023,648.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 170,971 shares of company stock worth $12,958,080. 0.96% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Discover Financial Services by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 25,748,479 shares of the financial services provider’s stock valued at $1,601,297,000 after purchasing an additional 217,535 shares during the last quarter. Boston Partners lifted its holdings in shares of Discover Financial Services by 4.6% in the 3rd quarter. Boston Partners now owns 12,187,219 shares of the financial services provider’s stock valued at $785,833,000 after buying an additional 538,244 shares during the period. Capital World Investors lifted its holdings in shares of Discover Financial Services by 18.3% in the 2nd quarter. Capital World Investors now owns 10,578,342 shares of the financial services provider’s stock valued at $657,867,000 after buying an additional 1,638,334 shares during the period. FMR LLC lifted its holdings in shares of Discover Financial Services by 17.4% in the 2nd quarter. FMR LLC now owns 10,374,397 shares of the financial services provider’s stock valued at $645,184,000 after buying an additional 1,534,882 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Discover Financial Services by 97.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,035,035 shares of the financial services provider’s stock valued at $453,619,000 after buying an additional 3,475,126 shares during the period. Institutional investors and hedge funds own 84.59% of the company’s stock.

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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.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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