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HomeNewsBusinessBrokerages Have Given Discover Financial Services (NYSE:DFS) an Average Rating of “Hold”

Brokerages Have Given Discover Financial Services (NYSE:DFS) an Average Rating of “Hold”

The fifteen analysts who are presently following Discover Financial Services (NYSE:DFS) have given the stock a consensus recommendation of “Hold,” according to Marketbeat.com. Three analysts have given the firm a buy rating, eight have assigned a hold rating, and one has given the stock a sell rating. Brokerages who have given the stock ratings in the previous year have set an average 12-month target price of $119.31.

In other events, on December 7th, Director Michael H. Moskow made a sale of 1,291 shares of the company’s stock. For a total transaction value of $135,684.10, the stock was sold at an average price of $105.10. The transaction has been completed, and the director now owns 51,596 shares of the business, valued at $5,422,739.60. A document submitted to the SEC that details the transaction is accessible on the SEC website. 0.59% of the stock is held by company insiders.

A number of recent analyst reports have discussed DFS. In a research note published on Thursday, October 13th, Citigroup lowered their target price for Discover Financial Services from $115.00 to $103.00 and assigned the stock a “neutral” rating. In a research report published on Tuesday, December 13th, Bank of America downgraded Discover Financial Services from a “buy” recommendation to a “underperform” rating. In a research report published on Wednesday, October 26th, Piper Sandler increased their price objective on Discover Financial Services from $124.00 to $133.00 and assigned the company a “overweight” rating. In a research report on Friday, Barclays downgraded Discover Financial Services from “overweight” to “equal weight” and increased their price target for the business from $115 to $120.00. Finally, in a research report published on Thursday, December 1st, Morgan Stanley lowered their price objective on Discover Financial Services from $116.00 to $115.00 and assigned the stock a “overweight” rating.

Shares of DFS have lately been bought and sold by several significant investors. During the first quarter, First Trust Advisors LP increased its holdings in Discover Financial Services by 489.5%. After purchasing an additional 1,660,180 shares in the most recent quarter, First Trust Advisors LP now owns 1,999,341 shares of the financial services provider’s stock, valued at $220,307,000. During the second quarter, Goldman Sachs Group Inc. increased its ownership of Discover Financial Services by 51.2%. After purchasing an additional 554,438 shares in the most recent quarter, Goldman Sachs Group Inc. now owns 1,636,711 shares of the financial services provider’s stock, valued at $154,801,000. During the second quarter, Sumitomo Mitsui Trust Holdings Inc. increased its ownership of Discover Financial Services by 40.4%. After acquiring an additional 344,578 shares in the most recent quarter, Sumitomo Mitsui Trust Holdings Inc. now owns 1,198,287 shares in the financial services provider, valued at $113,334,000. During the first quarter, Royal Bank of Canada increased its ownership of Discover Financial Services by 37.0%. After purchasing an additional 302,853 shares in the most recent quarter, Royal Bank of Canada now owns 1,121,620 shares of the financial services provider’s stock, valued at $123,591,000. And last, during the second quarter, Deutsche Bank AG increased its holding in Discover Financial Services by 29.7%. After purchasing an additional 298,296 shares in the most recent quarter, Deutsche Bank AG now owns 1,304,166 shares of the financial services provider’s stock, valued at $123,349,000. 81.74% of the shares of the company is held by institutions.

Discover Financial Services (NYSE:DFS – Get Rating) last announced its earnings results on Monday, October 24th. The financial services provider reported $3.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.66 by ($0.12). Discover Financial Services had a net margin of 31.90% and a return on equity of 34.94%. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.40 billion. During the same period in the previous year, the company earned $3.54 earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. As a group, sell-side analysts predict that Discover Financial Services will post 15.37 EPS for the current fiscal year.

Discover Financial Services Stock Up 3.5 %
NYSE DFS opened at $103.04 on Friday. The business has a 50 day moving average price of $102.63 and a two-hundred day moving average price of $100.64. Discover Financial Services has a fifty-two week low of $87.64 and a fifty-two week high of $130.81. The stock has a market cap of $28.15 billion, a PE ratio of 6.71, a P/E/G ratio of 1.75 and a beta of 1.41. The company has a quick ratio of 1.26, a current ratio of 1.25 and a debt-to-equity ratio of 1.53.

Discover Financial Services Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 8th. Stockholders of record on Wednesday, November 23rd were paid a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, November 22nd. This represents a $2.40 annualized dividend and a dividend yield of 2.33%. Discover Financial Services’s payout ratio is 15.63%.

Through its subsidiaries, Discover Financial Services offers payment services, digital banking products, and related services in the US. Digital Banking and Payment Services are its two business segments. Private student loans, personal loans, home loans, and other forms of consumer lending are all provided to individuals by the Digital Banking segment. Direct-to-consumer deposit products include savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.

News Summary:

  • Brokerages Have Given Discover Financial Services (NYSE:DFS) an Average Rating of “Hold”
  • Check all news and articles from the latest Business news updates.
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