Discover Financial Services (NYSE:DFS) Receives New Coverage from Analysts at StockNews.com

StockNews.com started coverage on shares of Discover Financial Services (NYSE:DFS) in a report released on Monday morning. The firm issued a hold rating on the financial services provider's stock.

A number of other equities analysts have also recently commented on DFS. Jefferies Financial Group lifted their target price on Discover Financial Services from $145.00 to $150.00 and gave the stock a buy rating in a report on Tuesday, July 9th. Royal Bank of Canada lifted their price target on shares of Discover Financial Services from $140.00 to $148.00 and gave the stock a sector perform rating in a research note on Friday, July 19th. BTIG Research assumed coverage on shares of Discover Financial Services in a research report on Friday, June 7th. They issued a neutral rating on the stock. Barclays boosted their target price on Discover Financial Services from $135.00 to $137.00 and gave the company an equal weight rating in a research report on Friday, July 19th. Finally, BMO Capital Markets increased their price target on Discover Financial Services from $115.00 to $119.00 and gave the stock a market perform rating in a report on Friday, July 19th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $132.94.

Discover Financial Services Price Performance

DFS stock traded up $4.65 during mid-day trading on Monday, hitting $133.33. The company had a trading volume of 1,083,883 shares, compared to its average volume of 1,696,403. The company has a market capitalization of $33.48 billion, a price-to-earnings ratio of 15.20, a P/E/G ratio of 0.86 and a beta of 1.42. The company has a 50-day moving average price of $134.06 and a 200 day moving average price of $127.83. The company has a quick ratio of 1.04, a current ratio of 1.12 and a debt-to-equity ratio of 1.28. Discover Financial Services has a 12-month low of $79.04 and a 12-month high of $147.61.

Discover Financial Services (NYSE:DFS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $6.06 earnings per share for the quarter, topping the consensus estimate of $3.06 by $3.00. Discover Financial Services had a net margin of 12.88% and a return on equity of 20.92%. The company had revenue of $4.54 billion for the quarter, compared to analysts' expectations of $4.18 billion. During the same quarter in the previous year, the business posted $3.54 earnings per share. Discover Financial Services's quarterly revenue was up 17.0% on a year-over-year basis. On average, research analysts anticipate that Discover Financial Services will post 12.87 earnings per share for the current year.

Discover Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 22nd were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Thursday, August 22nd. Discover Financial Services's dividend payout ratio is currently 31.93%.

Hedge Funds Weigh In On Discover Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of DFS. Sanctuary Advisors LLC purchased a new position in shares of Discover Financial Services in the second quarter worth $4,966,000. New Century Financial Group LLC lifted its position in Discover Financial Services by 143.6% during the 2nd quarter. New Century Financial Group LLC now owns 3,746 shares of the financial services provider's stock worth $490,000 after acquiring an additional 2,208 shares during the period. Cetera Investment Advisers grew its stake in Discover Financial Services by 0.8% during the 2nd quarter. Cetera Investment Advisers now owns 69,539 shares of the financial services provider's stock valued at $9,097,000 after purchasing an additional 549 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new position in shares of Discover Financial Services in the second quarter worth about $476,000. Finally, EP Wealth Advisors LLC boosted its position in Discover Financial Services by 3.6% in the second quarter. EP Wealth Advisors LLC now owns 5,510 shares of the financial services provider's stock valued at $721,000 after buying an additional 189 shares during the last quarter. 86.94% of the stock is owned by hedge funds and other institutional investors.

About Discover Financial Services

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; private student loans, 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.