Discover Financial Services’ (DFS) Buy Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their buy rating on shares of Discover Financial Services (NYSE:DFS) in a research report sent to investors on Monday. The brokerage currently has a $84.00 target price on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. Jefferies Group LLC reaffirmed a buy rating and set a $82.00 price target on shares of Discover Financial Services in a report on Friday, April 7th. Rafferty Capital Markets reiterated a hold rating and set a $70.00 price objective on shares of Discover Financial Services in a research note on Wednesday, March 29th. Oppenheimer Holdings Inc. set a $85.00 price objective on shares of Discover Financial Services and gave the company a buy rating in a research note on Tuesday, January 24th. Sandler O’Neill set a $79.00 price objective on shares of Discover Financial Services and gave the company a buy rating in a research note on Wednesday, January 25th. Finally, Wedbush set a $78.00 price objective on shares of Discover Financial Services and gave the company a buy rating in a research note on Wednesday, January 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Discover Financial Services has a consensus rating of Buy and an average price target of $71.75.

Discover Financial Services (NYSE:DFS) traded down 1.40% during midday trading on Monday, reaching $64.32. The company had a trading volume of 3,434,128 shares. The company has a market capitalization of $24.80 billion, a P/E ratio of 11.15 and a beta of 1.42. The company’s 50 day moving average is $67.56 and its 200-day moving average is $67.11. Discover Financial Services has a 52-week low of $50.32 and a 52-week high of $74.33.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $1.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.01. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Discover Financial Services had a return on equity of 21.66% and a net margin of 22.54%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 earnings per share. Equities analysts expect that Discover Financial Services will post $6.08 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Discover Financial Services’ (DFS) Buy Rating Reaffirmed at Keefe, Bruyette & Woods” was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another publication, it was stolen and republished in violation of international copyright and trademark legislation. The correct version of this piece can be accessed at https://www.com-unik.info/2017/04/27/discover-financial-services-dfs-buy-rating-reaffirmed-at-keefe-bruyette-woods-updated.html.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, May 11th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.87%. The ex-dividend date is Tuesday, May 9th. Discover Financial Services’s payout ratio is 20.76%.

In other Discover Financial Services news, EVP Julie A. Loeger sold 3,871 shares of Discover Financial Services stock in a transaction on Monday, January 30th. The shares were sold at an average price of $68.94, for a total transaction of $266,866.74. Following the completion of the sale, the executive vice president now owns 24,414 shares of the company’s stock, valued at approximately $1,683,101.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Nelms sold 15,000 shares of Discover Financial Services stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $67.93, for a total transaction of $1,018,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,559 shares of company stock worth $4,576,966. Corporate insiders own 1.07% of the company’s stock.

Large investors have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Discover Financial Services by 6.1% in the fourth quarter. State Street Corp now owns 21,146,396 shares of the financial services provider’s stock worth $1,524,446,000 after buying an additional 1,207,103 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Discover Financial Services by 0.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 10,857,013 shares of the financial services provider’s stock worth $613,964,000 after buying an additional 47,257 shares during the period. FMR LLC raised its stake in shares of Discover Financial Services by 3.7% in the fourth quarter. FMR LLC now owns 9,844,614 shares of the financial services provider’s stock worth $709,698,000 after buying an additional 355,684 shares during the period. LSV Asset Management raised its stake in shares of Discover Financial Services by 1.3% in the third quarter. LSV Asset Management now owns 7,015,656 shares of the financial services provider’s stock worth $396,735,000 after buying an additional 90,549 shares during the period. Finally, BlackRock Advisors LLC raised its stake in shares of Discover Financial Services by 10.4% in the third quarter. BlackRock Advisors LLC now owns 5,502,924 shares of the financial services provider’s stock worth $311,190,000 after buying an additional 516,575 shares during the period. 85.54% of the stock is owned by institutional investors.

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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.

5 Day Chart for NYSE:DFS

What are top analysts saying about Discover Financial Services? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Discover Financial Services and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit