Discover Financial Services’ (DFS) Market Perform Rating Reiterated at Wells Fargo & Co

Wells Fargo & Co reissued their market perform rating on shares of Discover Financial Services (NYSE:DFS) in a research note published on Tuesday, January 9th, The Fly reports. Wells Fargo & Co currently has a $83.00 target price on the financial services provider’s stock, up from their previous target price of $69.00.

Several other brokerages have also issued reports on DFS. Zacks Investment Research upgraded Discover Financial Services from a hold rating to a buy rating and set a $86.00 target price for the company in a research report on Tuesday, January 2nd. ValuEngine downgraded shares of Discover Financial Services from a buy rating to a hold rating in a research note on Monday, September 11th. Compass Point downgraded shares of Discover Financial Services from a buy rating to a neutral rating in a research note on Wednesday, October 25th. Barclays set a $73.00 price objective on shares of Discover Financial Services and gave the stock a hold rating in a research note on Wednesday, October 25th. Finally, BMO Capital Markets reduced their price objective on shares of Discover Financial Services from $69.00 to $67.00 and set a market perform rating for the company in a research note on Wednesday, October 25th. Two 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. The stock currently has an average rating of Buy and an average price target of $85.61.

Discover Financial Services (DFS) opened at $78.97 on Tuesday. The company has a market capitalization of $28,696.20, a PE ratio of 13.23, a P/E/G ratio of 1.30 and a beta of 1.54. Discover Financial Services has a 12-month low of $57.50 and a 12-month high of $81.93. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.08 and a quick ratio of 1.55.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Investors of record on Thursday, February 22nd will be given 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 dividend yield of 1.77%. Discover Financial Services’s dividend payout ratio (DPR) is presently 25.88%.

In other news, SVP Edward W. Mcgrogan sold 2,435 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $81.63, for a total value of $198,769.05. Following the completion of the sale, the senior vice president now owns 12,033 shares of the company’s stock, valued at approximately $982,253.79. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard H. Lenny sold 4,520 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $79.89, for a total transaction of $361,102.80. Following the completion of the sale, the director now directly owns 21,812 shares of the company’s stock, valued at approximately $1,742,560.68. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 55,000 shares of company stock valued at $16,300 and have sold 170,971 shares valued at $12,958,080. 0.96% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Diamond Hill Capital Management Inc. boosted its position in shares of Discover Financial Services by 97.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 7,035,035 shares of the financial services provider’s stock worth $453,619,000 after purchasing an additional 3,475,126 shares during the period. TD Asset Management Inc. boosted its position in shares of Discover Financial Services by 71.9% during the 3rd quarter. TD Asset Management Inc. now owns 1,975,814 shares of the financial services provider’s stock worth $127,401,000 after purchasing an additional 826,606 shares during the period. Stifel Financial Corp boosted its position in shares of Discover Financial Services by 5.8% during the 2nd quarter. Stifel Financial Corp now owns 1,250,428 shares of the financial services provider’s stock worth $77,758,000 after purchasing an additional 68,942 shares during the period. Sciencast Management LP purchased a new position in shares of Discover Financial Services during the 2nd quarter worth approximately $373,000. Finally, Wasatch Advisors Inc. boosted its position in shares of Discover Financial Services by 24.3% during the 3rd quarter. Wasatch Advisors Inc. now owns 16,352 shares of the financial services provider’s stock worth $1,054,000 after purchasing an additional 3,200 shares during the period. 84.59% of the stock is owned by hedge funds and other institutional investors.

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Discover Financial Services Company Profile

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.

The Fly

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