Truist Financial Cuts Discover Financial Services (NYSE:DFS) Price Target to $219.00

Discover Financial Services (NYSE:DFS) had its target price lowered by Truist Financial from $262.00 to $219.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the financial services provider's stock.

Several other brokerages also recently commented on DFS. StockNews.com downgraded shares of Discover Financial Services from a "buy" rating to a "hold" rating in a report on Friday, January 24th. Wells Fargo & Company boosted their target price on Discover Financial Services from $185.00 to $214.00 and gave the stock an "equal weight" rating in a research report on Friday, January 24th. JPMorgan Chase & Co. raised their price target on Discover Financial Services from $146.00 to $169.00 and gave the company a "neutral" rating in a report on Friday, January 24th. UBS Group raised Discover Financial Services from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $150.00 to $239.00 in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an "outperform" rating in a research note 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $192.40.

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Discover Financial Services Stock Performance

Shares of NYSE:DFS traded up $4.20 during midday trading on Friday, reaching $169.03. 421,569 shares of the company traded hands, compared to its average volume of 1,964,848. The firm's fifty day moving average price is $186.18 and its two-hundred day moving average price is $169.10. The firm has a market capitalization of $42.53 billion, a price-to-earnings ratio of 10.59, a price-to-earnings-growth ratio of 1.51 and a beta of 1.45. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. Discover Financial Services has a 12 month low of $119.31 and a 12 month high of $205.76.

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

Discover Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, May 23rd. Discover Financial Services's dividend payout ratio (DPR) is presently 17.54%.

Institutional Investors Weigh In On Discover Financial Services

A number of institutional investors have recently made changes to their positions in DFS. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Discover Financial Services during the third quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new stake in Discover Financial Services during the 4th quarter valued at about $33,000. Flagship Wealth Advisors LLC purchased a new stake in Discover Financial Services during the 4th quarter valued at about $34,000. Mattson Financial Services LLC bought a new position in Discover Financial Services during the 4th quarter worth approximately $34,000. Finally, Grove Bank & Trust increased its stake in Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider's stock worth $35,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 86.94% of the company's stock.

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; 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.