Discover Financial Services (NYSE:DFS) Given New $123.00 Price Target at Barclays

Discover Financial Services (NYSE:DFS) had its target price lifted by Barclays from $120.00 to $123.00 in a research note published on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada reissued a sector perform rating and issued a $140.00 price objective (up from $117.00) on shares of Discover Financial Services in a research note on Wednesday, February 21st. The Goldman Sachs Group decreased their price objective on shares of Discover Financial Services from $139.00 to $121.00 and set a buy rating on the stock in a research note on Friday, January 19th. Wolfe Research reissued a peer perform rating on shares of Discover Financial Services in a research note on Wednesday, February 21st. Seaport Res Ptn cut shares of Discover Financial Services from a buy rating to a neutral rating in a research note on Friday, March 15th. Finally, BMO Capital Markets decreased their price objective on shares of Discover Financial Services from $116.00 to $104.00 and set a market perform rating on the stock in a research note on Monday, January 22nd. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $125.94.

Discover Financial Services Stock Up 0.9 %

NYSE DFS opened at $125.35 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.13 and a debt-to-equity ratio of 1.49. Discover Financial Services has a 1-year low of $79.04 and a 1-year high of $131.65. The company has a 50 day moving average of $122.02 and a 200-day moving average of $105.90. The company has a market cap of $31.41 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 0.88 and a beta of 1.45.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($1.88). The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.07 billion. Discover Financial Services had a net margin of 10.56% and a return on equity of 16.74%. During the same quarter in the previous year, the firm posted $3.58 earnings per share. On average, equities research analysts expect that Discover Financial Services will post 11.23 earnings per share for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Thursday, May 23rd will be paid a $0.70 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $2.80 annualized dividend and a dividend yield of 2.23%. Discover Financial Services’s dividend payout ratio is 31.93%.

Insider Buying and Selling

In related news, CFO John Greene sold 35,191 shares of the business’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $106.51, for a total value of $3,748,193.41. Following the sale, the chief financial officer now owns 18,592 shares of the company’s stock, valued at $1,980,233.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.69% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Discover Financial Services

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dagco Inc. acquired a new position in Discover Financial Services in the fourth quarter valued at $25,000. Partnership Wealth Management LLC acquired a new position in Discover Financial Services in the fourth quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new position in Discover Financial Services in the fourth quarter valued at $28,000. Riverview Trust Co acquired a new position in Discover Financial Services in the first quarter valued at $34,000. Finally, MeadowBrook Investment Advisors LLC acquired a new position in Discover Financial Services in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 86.94% of the company’s stock.

Discover Financial Services Company Profile

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; private student loans, 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.