Discover Financial Services (DFS) Earns Buy Rating from Analysts at Compass Point

Compass Point assumed coverage on shares of Discover Financial Services (NYSE:DFS) in a research note issued to investors on Friday morning. The brokerage issued a buy rating on the financial services provider’s stock.

Several other research firms have also recently weighed in on DFS. Susquehanna cut shares of Discover Financial Services from a positive rating to a neutral rating in a report on Friday, January 6th. DA Davidson reaffirmed a buy rating on shares of Discover Financial Services in a report on Wednesday, December 14th. Bank of America Corporation raised shares of Discover Financial Services from a neutral rating to a buy rating in a report on Thursday, December 15th. Zacks Investment Research cut shares of Discover Financial Services from a buy rating to a hold rating in a report on Monday, November 28th. Finally, Wedbush raised shares of Discover Financial Services from a neutral rating to an outperform rating and upped their price target for the stock from $72.00 to $78.00 in a report on Wednesday, December 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $66.83.

Shares of Discover Financial Services (NYSE:DFS) traded down 0.72% on Friday, reaching $71.59. The company’s stock had a trading volume of 1,622,520 shares. The firm has a market cap of $28.23 billion, a price-to-earnings ratio of 13.03 and a beta of 1.47. The stock has a 50 day moving average of $70.94 and a 200-day moving average of $60.69. Discover Financial Services has a 12 month low of $42.86 and a 12 month high of $74.33.

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In related news, CFO R. Mark Graf sold 25,032 shares of Discover Financial Services stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $56.78, for a total transaction of $1,421,316.96. Following the transaction, the chief financial officer now owns 116,052 shares in the company, valued at approximately $6,589,432.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael H. Moskow sold 2,229 shares of Discover Financial Services stock in a transaction on Monday, October 31st. The shares were sold at an average price of $56.61, for a total transaction of $126,183.69. Following the transaction, the director now owns 50,392 shares in the company, valued at approximately $2,852,691.12. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can purchased a new position in Discover Financial Services during the second quarter worth $287,715,000. The Manufacturers Life Insurance Company purchased a new position in Discover Financial Services during the third quarter worth $90,103,000. Adage Capital Partners GP L.L.C. boosted its position in Discover Financial Services by 620.3% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,467,658 shares of the financial services provider’s stock worth $78,652,000 after buying an additional 1,263,900 shares during the period. Ameriprise Financial Inc. boosted its position in Discover Financial Services by 95.7% in the third quarter. Ameriprise Financial Inc. now owns 2,456,013 shares of the financial services provider’s stock worth $139,045,000 after buying an additional 1,200,918 shares during the period. Finally, Primecap Management Co. CA boosted its position in Discover Financial Services by 35.3% in the second quarter. Primecap Management Co. CA now owns 3,866,300 shares of the financial services provider’s stock worth $207,195,000 after buying an additional 1,009,700 shares during the period. Institutional investors own 83.41% of the company’s stock.

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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

5 Day Chart for NYSE:DFS

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