Royal Bank of Canada Reiterates “Buy” Rating for Discover Financial Services (DFS)

Discover Financial Services (NYSE:DFS)‘s stock had its “buy” rating reiterated by analysts at Royal Bank of Canada in a research report issued on Tuesday. They presently have a $107.00 price objective on the financial services provider’s stock. Royal Bank of Canada’s price target points to a potential upside of 36.76% from the company’s previous close.

A number of other research firms have also recently issued reports on DFS. Wells Fargo & Co reissued a “market perform” rating and issued a $83.00 price target (up previously from $69.00) on shares of Discover Financial Services in a research note on Tuesday. Stephens set a $73.00 price target on shares of Discover Financial Services and gave the company a “sell” rating in a research note on Tuesday, January 2nd. Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Tuesday, January 2nd. Deutsche Bank started coverage on shares of Discover Financial Services in a research note on Tuesday, January 2nd. They set a “buy” rating and a $92.00 target price on the stock. Finally, Bank of America raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and set a $83.00 target price on the stock in a research note on Monday, December 18th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $79.90.

Discover Financial Services (NYSE:DFS) traded up $0.67 during trading on Tuesday, reaching $78.24. 2,302,014 shares of the company were exchanged, compared to its average volume of 2,320,000. Discover Financial Services has a 1 year low of $57.50 and a 1 year high of $78.83. The firm has a market cap of $28,430.00, a PE ratio of 13.47, a P/E/G ratio of 1.80 and a beta of 1.52. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52.

In other news, CFO R. Mark Graf sold 16,503 shares of Discover Financial Services stock in a transaction on Friday, October 27th. The stock was sold at an average price of $66.67, for a total transaction of $1,100,255.01. Following the transaction, the chief financial officer now owns 82,402 shares in the company, valued at approximately $5,493,741.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of Discover Financial Services stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $76.81, for a total value of $307,240.00. Following the transaction, the executive vice president now owns 134,744 shares in the company, valued at approximately $10,349,686.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,277 shares of company stock worth $12,673,925. Insiders own 0.96% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of DFS. Franklin Resources Inc. raised its holdings in shares of Discover Financial Services by 4.4% during the 2nd quarter. Franklin Resources Inc. now owns 851,485 shares of the financial services provider’s stock worth $52,954,000 after acquiring an additional 35,631 shares during the period. Aberdeen Asset Management PLC UK raised its holdings in Discover Financial Services by 8.1% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 154,057 shares of the financial services provider’s stock valued at $9,581,000 after buying an additional 11,504 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Discover Financial Services by 10.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,175 shares of the financial services provider’s stock valued at $384,000 after buying an additional 599 shares during the period. AJO LP raised its holdings in Discover Financial Services by 4,041.2% in the 2nd quarter. AJO LP now owns 832,681 shares of the financial services provider’s stock valued at $51,784,000 after buying an additional 812,574 shares during the period. Finally, Summit Global Investments purchased a new stake in Discover Financial Services in the 2nd quarter valued at about $420,000. Institutional investors and hedge funds own 84.77% of the company’s stock.

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Discover Financial Services Company Profile

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.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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