Jefferies Group restated their buy rating on shares of Discover Financial Services (NYSE:DFS) in a research note issued to investors on Thursday morning. They currently have a $70.00 price objective on the financial services provider’s stock.

A number of other research firms have also recently weighed in on DFS. Wells Fargo & Co. reissued a buy rating on shares of Discover Financial Services in a research report on Saturday, July 9th. Nomura reissued a buy rating on shares of Discover Financial Services in a research report on Saturday, July 9th. RBC Capital Markets reissued a top pick rating and issued a $73.00 price objective (up from $68.00) on shares of Discover Financial Services in a research report on Wednesday, July 20th. Evercore ISI reissued a buy rating and issued a $59.00 price objective on shares of Discover Financial Services in a research report on Wednesday, June 15th. Finally, Credit Suisse Group AG reissued an outperform rating on shares of Discover Financial Services in a research report on Tuesday, July 5th. 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’s stock. The stock currently has an average rating of Buy and a consensus price target of $63.69.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

Discover Financial Services (NYSE:DFS) traded up 0.73% during mid-day trading on Thursday, hitting $54.91. The stock had a trading volume of 755,649 shares. The stock has a market cap of $22.16 billion, a P/E ratio of 10.32 and a beta of 1.20. Discover Financial Services has a one year low of $42.86 and a one year high of $60.29. The company has a 50 day moving average price of $57.65 and a 200 day moving average price of $55.70.

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

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.20%. Discover Financial Services’s payout ratio is 22.47%.

In other news, CEO David W. Nelms sold 15,000 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $56.46, for a total transaction of $846,900.00. Following the transaction, the chief executive officer now owns 1,727,268 shares in the company, valued at approximately $97,521,551.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Edward W. Mcgrogan sold 1,300 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $56.69, for a total transaction of $73,697.00. Following the transaction, the senior vice president now owns 12,072 shares in the company, valued at approximately $684,361.68. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Architects Inc increased its position in Discover Financial Services by 724.6% in the second quarter. Financial Architects Inc now owns 1,880 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,652 shares during the last quarter. Evercore Wealth Management LLC raised its stake in shares of Discover Financial Services by 24.9% in the second quarter. Evercore Wealth Management LLC now owns 1,989 shares of the financial services provider’s stock valued at $107,000 after buying an additional 396 shares during the period. Mycio Wealth Partners LLC raised its stake in shares of Discover Financial Services by 43.7% in the second quarter. Mycio Wealth Partners LLC now owns 2,054 shares of the financial services provider’s stock valued at $110,000 after buying an additional 625 shares during the period. Advisory Services Network LLC raised its stake in shares of Discover Financial Services by 21.0% in the second quarter. Advisory Services Network LLC now owns 2,257 shares of the financial services provider’s stock valued at $121,000 after buying an additional 391 shares during the period. Finally, Seven Eight Capital LLC acquired a new stake in shares of Discover Financial Services during the second quarter valued at $124,000. Institutional investors own 85.42% of the company’s stock.

About Discover Financial Services

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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