Equities research analysts at Wedbush assumed coverage on shares of Discover Financial Services (NYSE:DFS) in a report issued on Monday. The brokerage set a “neutral” rating and a $63.00 price target on the financial services provider’s stock. Wedbush’s price objective points to a potential upside of 11.58% from the stock’s current price.

A number of other research firms have also recently issued reports on DFS. Jefferies Group lifted their target price on shares of Discover Financial Services from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, September 1st. Barclays PLC lowered shares of Discover Financial Services from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, September 7th. Deutsche Bank AG reissued a “buy” rating and issued a $63.00 price target on shares of Discover Financial Services in a research report on Thursday, August 18th. Credit Suisse Group AG reissued a “buy” rating on shares of Discover Financial Services in a research report on Tuesday, August 23rd. Finally, Royal Bank Of Canada lifted their price target on shares of Discover Financial Services from $68.00 to $73.00 and gave the company a “top pick” rating in a research report on Wednesday, July 20th. Seven analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $63.69.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

Discover Financial Services (NYSE:DFS) traded down 0.96% on Monday, reaching $55.92. 274,245 shares of the company’s stock were exchanged. The stock has a market capitalization of $22.57 billion, a PE ratio of 10.51 and a beta of 1.20. The firm has a 50 day moving average of $57.89 and a 200 day moving average of $55.71. Discover Financial Services has a 12 month low of $42.86 and a 12 month high of $60.29.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.05. Discover Financial Services had a net margin of 22.41% and a return on equity of 21.15%. Equities analysts predict that Discover Financial Services will post $5.72 earnings per share for the current fiscal year.

In other news, CEO David W. Nelms sold 15,000 shares of the company’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $56.68, for a total value of $850,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Edward W. Mcgrogan sold 1,300 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $56.69, for a total value of $73,697.00. Following the completion of the sale, the senior vice president now directly owns 12,072 shares of the company’s stock, valued at $684,361.68. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Friess Associates LLC bought a new stake in shares of Discover Financial Services during the first quarter worth approximately $2,799,000. Riverhead Capital Management LLC boosted its stake in shares of Discover Financial Services by 206.8% in the first quarter. Riverhead Capital Management LLC now owns 296,362 shares of the financial services provider’s stock worth $15,090,000 after buying an additional 199,772 shares during the period. AXA boosted its stake in shares of Discover Financial Services by 2.2% in the first quarter. AXA now owns 341,870 shares of the financial services provider’s stock worth $17,408,000 after buying an additional 7,476 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of Discover Financial Services by 1.3% in the first quarter. Pictet Asset Management Ltd. now owns 233,311 shares of the financial services provider’s stock worth $10,830,000 after buying an additional 3,100 shares during the period. Finally, Primecap Management Co. CA boosted its stake in shares of Discover Financial Services by 14.7% in the first quarter. Primecap Management Co. CA now owns 2,856,600 shares of the financial services provider’s stock worth $145,458,000 after buying an additional 367,100 shares during the period. 85.42% of the stock is owned by institutional investors.

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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

5 Day Chart for NYSE:DFS

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