Discover Financial Services (NYSE:DFS) PT Raised to $80.00 at JMP Securities

Discover Financial Services (NYSE:DFS) had its price objective raised by JMP Securities from $74.00 to $80.00 in a research note published on Thursday, April 4th, BenzingaRatingsTable reports. The firm currently has a market outperform rating on the financial services provider’s stock.

Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Discover Financial Services from a hold rating to a buy rating and set a $78.00 target price on the stock in a research report on Wednesday, March 27th. Bank of America set a $80.00 target price on shares of Discover Financial Services and gave the stock a buy rating in a research report on Friday, January 25th. Barclays set a $85.00 target price on shares of Discover Financial Services and gave the stock a buy rating in a research report on Friday, December 14th. Stephens reaffirmed a hold rating and issued a $80.00 target price on shares of Discover Financial Services in a research report on Sunday, January 6th. Finally, ValuEngine raised shares of Discover Financial Services from a sell rating to a hold rating in a research report on Friday, March 15th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Discover Financial Services currently has a consensus rating of Buy and an average target price of $81.40.

NYSE DFS traded up $3.66 during trading on Thursday, hitting $81.19. The company had a trading volume of 3,168,065 shares, compared to its average volume of 2,074,813. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 2.58. Discover Financial Services has a one year low of $54.36 and a one year high of $81.54. The firm has a market capitalization of $25.35 billion, a PE ratio of 10.42, a price-to-earnings-growth ratio of 1.12 and a beta of 1.60.

Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $2.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.13. The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.76 billion. Discover Financial Services had a net margin of 21.25% and a return on equity of 26.22%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.82 EPS. On average, sell-side analysts predict that Discover Financial Services will post 8.62 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Friday, May 24th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Thursday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is 20.54%.

In other Discover Financial Services news, insider David W. Nelms sold 29,300 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $72.46, for a total transaction of $2,123,078.00. Following the sale, the insider now owns 970,891 shares in the company, valued at approximately $70,350,761.86. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Roger C. Hochschild bought 30,000 shares of the firm’s stock in a transaction on Monday, January 28th. The shares were purchased at an average price of $66.67 per share, for a total transaction of $2,000,100.00. Following the purchase, the chief executive officer now owns 834,457 shares in the company, valued at approximately $55,633,248.19. The disclosure for this purchase can be found here. Insiders have sold a total of 117,062 shares of company stock worth $8,124,691 in the last 90 days. Company insiders own 0.81% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Reliance Trust Co. of Delaware grew its holdings in shares of Discover Financial Services by 7.9% in the first quarter. Reliance Trust Co. of Delaware now owns 7,270 shares of the financial services provider’s stock valued at $517,000 after purchasing an additional 534 shares in the last quarter. Brighton Jones LLC purchased a new position in shares of Discover Financial Services in the first quarter valued at $264,000. Assenagon Asset Management S.A. purchased a new position in shares of Discover Financial Services in the first quarter valued at $3,425,000. Parsec Financial Management Inc. grew its holdings in shares of Discover Financial Services by 31.5% in the first quarter. Parsec Financial Management Inc. now owns 92,467 shares of the financial services provider’s stock valued at $6,580,000 after purchasing an additional 22,145 shares in the last quarter. Finally, Meritage Portfolio Management grew its holdings in shares of Discover Financial Services by 92.6% in the first quarter. Meritage Portfolio Management now owns 70,837 shares of the financial services provider’s stock valued at $5,041,000 after purchasing an additional 34,055 shares in the last quarter. Institutional investors own 87.32% of the company’s stock.

About Discover Financial Services

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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