Discover Financial Services (NYSE:DFS) Cut to Hold at StockNews.com

Discover Financial Services (NYSE:DFS) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday.

Other equities research analysts have also recently issued research reports about the stock. UBS Group raised shares of Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their target price for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Barclays upped their price objective on Discover Financial Services from $186.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their price objective on Discover Financial Services from $146.00 to $169.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Truist Financial cut their target price on shares of Discover Financial Services from $262.00 to $219.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Finally, Keefe, Bruyette & Woods upped their price target on Discover Financial Services from $170.00 to $232.00 and gave the company an "outperform" rating in a research report on Monday, December 9th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $192.40.

Remove Ads

Discover Financial Services Stock Up 0.8 %

Shares of Discover Financial Services stock traded up $1.19 on Wednesday, hitting $148.23. The company had a trading volume of 1,392,027 shares, compared to its average volume of 1,558,610. The stock has a 50-day moving average of $181.35 and a 200-day moving average of $171.43. The firm has a market capitalization of $37.30 billion, a P/E ratio of 9.28, a P/E/G ratio of 1.51 and a beta of 1.20. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. Discover Financial Services has a twelve month low of $119.31 and a twelve month high of $205.76.

Discover Financial Services (NYSE:DFS - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a net margin of 17.29% and a return on equity of 26.18%. Research analysts predict that Discover Financial Services will post 13.88 earnings per share for the current year.

Institutional Investors Weigh In On Discover Financial Services

Several large investors have recently added to or reduced their stakes in the company. Townsquare Capital LLC grew its position in shares of Discover Financial Services by 4.5% in the third quarter. Townsquare Capital LLC now owns 4,769 shares of the financial services provider's stock valued at $669,000 after purchasing an additional 204 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Discover Financial Services during the 3rd quarter valued at about $30,000. Atom Investors LP grew its holdings in Discover Financial Services by 69.5% during the 3rd quarter. Atom Investors LP now owns 3,489 shares of the financial services provider's stock valued at $489,000 after buying an additional 1,430 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Discover Financial Services by 465.3% during the third quarter. Benjamin Edwards Inc. now owns 10,249 shares of the financial services provider's stock valued at $1,438,000 after buying an additional 8,436 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in shares of Discover Financial Services by 3.4% in the third quarter. Janus Henderson Group PLC now owns 36,738 shares of the financial services provider's stock worth $5,155,000 after buying an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 86.94% of the company's stock.

Discover Financial Services Company Profile

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.