Discover Financial Services (NYSE:DFS) shares dropped 6.7% during mid-day trading on Tuesday . The company traded as low as $175.53 and last traded at $177.48. Approximately 796,132 shares changed hands during trading, a decline of 41% from the average daily volume of 1,340,846 shares. The stock had previously closed at $190.27.
Analyst Upgrades and Downgrades
DFS has been the topic of a number of analyst reports. StockNews.com downgraded shares of Discover Financial Services from a "buy" rating to a "hold" rating in a report on Friday, January 24th. Royal Bank of Canada lifted their price objective on shares of Discover Financial Services from $193.00 to $210.00 and gave the stock a "sector perform" rating in a report on Friday, January 24th. JPMorgan Chase & Co. lifted their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Truist Financial lifted their target price on Discover Financial Services from $233.00 to $262.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Finally, Barclays lifted their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, January 24th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $191.91.
View Our Latest Research Report on Discover Financial Services
Discover Financial Services Stock Down 3.1 %
The stock has a 50 day moving average of $189.03 and a 200-day moving average of $166.87. The firm has a market capitalization of $42.11 billion, a P/E ratio of 10.49, a PEG ratio of 1.51 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09.
Discover Financial Services (NYSE:DFS - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. Research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current fiscal year.
Discover Financial Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 23rd will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Friday, May 23rd. Discover Financial Services's dividend payout ratio is currently 17.54%.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in DFS. Norges Bank purchased a new position in Discover Financial Services during the 4th quarter valued at about $724,720,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Discover Financial Services during the 4th quarter valued at about $351,766,000. Invesco Ltd. grew its holdings in Discover Financial Services by 38.5% during the 4th quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider's stock valued at $515,268,000 after buying an additional 826,287 shares in the last quarter. Third Point LLC purchased a new position in Discover Financial Services during the 4th quarter valued at about $110,867,000. Finally, Empyrean Capital Partners LP purchased a new position in Discover Financial Services during the 4th quarter valued at about $100,993,000. Hedge funds and other institutional investors own 86.94% of the company's stock.
About Discover Financial Services
(
Get Free Report)
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.
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