Discover Financial Services (NYSE:DFS) had its target price reduced by Instinet from $96.00 to $94.00 in a research note issued to investors on Thursday, January 25th. Instinet currently has a buy rating on the financial services provider’s stock.
Other equities analysts also recently issued research reports about the stock. Oppenheimer set a $71.00 target price on shares of Discover Financial Services and gave the stock a buy rating in a research note on Tuesday, October 24th. Buckingham Research initiated coverage on shares of Discover Financial Services in a research note on Monday, October 2nd. They set a buy rating and a $74.00 price objective for the company. Royal Bank of Canada reaffirmed a buy rating and set a $86.00 price objective on shares of Discover Financial Services in a research note on Wednesday, October 25th. Nomura reduced their price objective on shares of Discover Financial Services from $81.00 to $79.00 and set a buy rating for the company in a research note on Wednesday, October 25th. Finally, ValuEngine raised shares of 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 given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $85.61.
Discover Financial Services (NYSE:DFS) opened at $75.95 on Thursday. The firm has a market cap of $27,600.00, a PE ratio of 14.04, a PEG ratio of 1.21 and a beta of 1.54. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.08 and a quick ratio of 1.55. Discover Financial Services has a 12 month low of $57.50 and a 12 month high of $81.93.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 8th. Shareholders of record on Thursday, February 22nd will be paid a $0.35 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $1.40 dividend on an annualized basis and a yield of 1.84%. Discover Financial Services’s dividend payout ratio is presently 25.88%.
In other Discover Financial Services news, CFO R. Mark Graf sold 22,444 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $79.84, for a total value of $1,791,928.96. Following the completion of the transaction, the chief financial officer now owns 82,991 shares of the company’s stock, valued at approximately $6,626,001.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Edward W. Mcgrogan sold 2,435 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $81.63, for a total transaction 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 $982,253.79. The disclosure for this sale can be found here. In the last three months, insiders acquired 55,000 shares of company stock valued at $16,300 and sold 242,673 shares valued at $18,685,542. 0.96% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently made changes to their positions in DFS. Grove Bank & Trust lifted its holdings in shares of Discover Financial Services by 2,483.3% in the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,490 shares during the last quarter. Rational Advisors LLC bought a new stake in shares of Discover Financial Services in the 3rd quarter worth approximately $123,000. Americafirst Capital Management LLC bought a new stake in shares of Discover Financial Services in the 3rd quarter worth approximately $140,000. Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of Discover Financial Services in the 2nd quarter worth approximately $157,000. Finally, San Francisco Sentry Investment Group CA bought a new stake in shares of Discover Financial Services in the 2nd quarter worth approximately $170,000. Hedge funds and other institutional investors own 84.46% 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.
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