Morgan Stanley Analysts Give Discover Financial Services (NYSE:DFS) a $97.00 Price Target

Morgan Stanley set a $97.00 price objective on Discover Financial Services (NYSE:DFS) in a research note issued to investors on Friday, TipRanks reports. The firm currently has a buy rating on the financial services provider’s stock.

A number of other research firms have also recently commented on DFS. CIBC reaffirmed a market perform rating on shares of Discover Financial Services in a research report on Tuesday, May 7th. BMO Capital Markets lifted their price objective on shares of Discover Financial Services to $92.00 and gave the stock a market perform rating in a research report on Monday, April 29th. Wells Fargo & Co lifted their price objective on shares of Discover Financial Services from $82.00 to $88.00 and gave the stock a market perform rating in a research report on Wednesday, July 24th. Oppenheimer cut shares of Discover Financial Services from an outperform rating to a market perform rating in a research report on Tuesday, May 7th. Finally, UBS Group lifted their price objective on shares of Discover Financial Services from $83.00 to $92.00 and gave the stock a neutral rating in a research report on Tuesday, July 30th. Twelve analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $84.35.

DFS traded down $2.38 during trading on Friday, reaching $81.61. 1,015,134 shares of the stock were exchanged, compared to its average volume of 2,636,825. The company has a market cap of $26.26 billion, a PE ratio of 10.48, a P/E/G ratio of 1.24 and a beta of 1.55. Discover Financial Services has a twelve month low of $54.36 and a twelve month high of $92.98. The business’s 50 day moving average price is $82.82. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.33.

Discover Financial Services (NYSE:DFS) last issued its earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.21. Discover Financial Services had a net margin of 21.00% and a return on equity of 26.76%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the company earned $1.91 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities analysts anticipate that Discover Financial Services will post 9 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 22nd will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend is Wednesday, August 21st. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.40. Discover Financial Services’s payout ratio is presently 20.54%.

In other news, CFO R. Mark Graf sold 4,776 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $92.44, for a total value of $441,493.44. Following the completion of the sale, the chief financial officer now owns 51,296 shares of the company’s stock, valued at $4,741,802.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary K. Bush sold 496 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $77.53, for a total transaction of $38,454.88. Following the completion of the sale, the director now directly owns 53,564 shares of the company’s stock, valued at approximately $4,152,816.92. The disclosure for this sale can be found here. In the last three months, insiders sold 28,159 shares of company stock valued at $2,572,746. 0.81% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Discover Financial Services by 6.2% in the first quarter. BlackRock Inc. now owns 23,825,935 shares of the financial services provider’s stock valued at $1,695,456,000 after acquiring an additional 1,399,427 shares during the period. Geode Capital Management LLC lifted its position in Discover Financial Services by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 4,609,400 shares of the financial services provider’s stock worth $271,408,000 after purchasing an additional 76,252 shares during the period. JPMorgan Chase & Co. lifted its position in Discover Financial Services by 12.6% during the second quarter. JPMorgan Chase & Co. now owns 4,489,949 shares of the financial services provider’s stock worth $348,376,000 after purchasing an additional 503,411 shares during the period. Bessemer Group Inc. lifted its position in Discover Financial Services by 1.1% during the second quarter. Bessemer Group Inc. now owns 3,204,718 shares of the financial services provider’s stock worth $248,653,000 after purchasing an additional 35,893 shares during the period. Finally, Amundi Pioneer Asset Management Inc. lifted its position in Discover Financial Services by 14.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 3,174,639 shares of the financial services provider’s stock worth $225,908,000 after purchasing an additional 407,146 shares during the period. 84.93% of the stock is owned by institutional investors.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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