Discover Financial Services (DFS) Now Covered by Citigroup

Equities researchers at Citigroup initiated coverage on shares of Discover Financial Services (NYSE:DFS) in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $78.00 price target on the financial services provider’s stock. Citigroup’s price target would indicate a potential upside of 10.89% from the company’s previous close.

DFS has been the subject of a number of other reports. Argus upgraded Discover Financial Services from an “average” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Friday, January 26th. Instinet lowered their price objective on Discover Financial Services from $96.00 to $94.00 and set a “buy” rating for the company in a research report on Thursday, January 25th. Zacks Investment Research upgraded Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday. Morgan Stanley lifted their price objective on Discover Financial Services from $79.00 to $91.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Finally, Wells Fargo lowered their price objective on Discover Financial Services from $84.00 to $76.00 and set a “market perform” rating for the company in a research report on Thursday, March 29th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $84.88.

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Discover Financial Services stock opened at $70.34 on Thursday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.51 and a quick ratio of 1.51. Discover Financial Services has a 12-month low of $57.50 and a 12-month high of $81.93. The stock has a market capitalization of $25,432.52, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 1.06 and a beta of 1.46.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.02. Discover Financial Services had a return on equity of 21.49% and a net margin of 17.95%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $1.85 billion. sell-side analysts predict that Discover Financial Services will post 7.65 EPS for the current fiscal year.

In related news, SVP Daniel Peter Capozzi sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $79.97, for a total value of $399,850.00. Following the completion of the transaction, the senior vice president now directly owns 23,977 shares in the company, valued at approximately $1,917,440.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Edward W. Mcgrogan sold 2,435 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $81.63, for a total value of $198,769.05. Following the completion of the transaction, the senior vice president now owns 12,033 shares of the company’s stock, valued at $982,253.79. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 29,000 shares of company stock valued at $8,670 and have sold 253,675 shares valued at $19,571,644. 0.81% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. grew its position in shares of Discover Financial Services by 9.7% in the 4th quarter. Victory Capital Management Inc. now owns 46,112 shares of the financial services provider’s stock valued at $3,547,000 after purchasing an additional 4,096 shares during the period. Bbva Compass Bancshares Inc. grew its position in shares of Discover Financial Services by 59.5% in the 4th quarter. Bbva Compass Bancshares Inc. now owns 87,684 shares of the financial services provider’s stock valued at $6,744,000 after purchasing an additional 32,708 shares during the period. OLD Mutual Customised Solutions Proprietary Ltd. grew its position in shares of Discover Financial Services by 62.8% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 23,852 shares of the financial services provider’s stock valued at $1,835,000 after purchasing an additional 9,200 shares during the period. Commerzbank Aktiengesellschaft FI lifted its stake in Discover Financial Services by 50.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 13,460 shares of the financial services provider’s stock valued at $868,000 after acquiring an additional 4,539 shares in the last quarter. Finally, Cumberland Partners Ltd lifted its stake in Discover Financial Services by 7.1% in the 4th quarter. Cumberland Partners Ltd now owns 372,060 shares of the financial services provider’s stock valued at $28,619,000 after acquiring an additional 24,785 shares in the last quarter. Institutional investors and hedge funds own 86.37% 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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