Stephens initiated coverage on shares of Discover Financial Services (NYSE:DFS) in a research report released on Friday. The firm issued an underweight rating and a $62.00 target price on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. Credit Suisse Group AG reiterated a buy rating on shares of Discover Financial Services in a report on Tuesday, August 23rd. Jefferies Group reiterated a buy rating and issued a $70.00 target price on shares of Discover Financial Services in a report on Friday, October 28th. Zacks Investment Research upgraded shares of Discover Financial Services from a hold rating to a buy rating and set a $72.00 target price on the stock in a report on Monday, November 14th. Deutsche Bank AG reiterated a buy rating and issued a $63.00 target price on shares of Discover Financial Services in a report on Thursday, August 18th. Finally, Oppenheimer Holdings Inc. reiterated an outperform rating and issued a $75.00 target price on shares of Discover Financial Services in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $64.04.

Shares of Discover Financial Services (NYSE:DFS) traded up 0.66% during midday trading on Friday, reaching $66.68. 667,518 shares of the company were exchanged. The company has a market capitalization of $26.30 billion, a P/E ratio of 12.13 and a beta of 1.39. Discover Financial Services has a 52-week low of $42.86 and a 52-week high of $67.18. The stock has a 50-day moving average price of $57.80 and a 200 day moving average price of $56.68.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Thursday, November 3rd were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.81%. The ex-dividend date was Tuesday, November 1st. Discover Financial Services’s dividend payout ratio is presently 21.74%.

In related news, EVP Kathryn Mcnamara Corley sold 15,000 shares of the stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the transaction, the executive vice president now directly owns 156,476 shares of the company’s stock, valued at $8,809,598.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Diane E. Offereins sold 10,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $56.45, for a total transaction of $564,500.00. Following the transaction, the executive vice president now directly owns 308,962 shares in the company, valued at $17,440,904.90. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Discover Financial Services during the second quarter valued at $287,715,000. PGGM Investments increased its position in Discover Financial Services by 198.0% in the second quarter. PGGM Investments now owns 893,529 shares of the financial services provider’s stock valued at $47,884,000 after buying an additional 593,661 shares during the last quarter. Sterling Capital Management LLC increased its position in Discover Financial Services by 1.0% in the second quarter. Sterling Capital Management LLC now owns 2,065,087 shares of the financial services provider’s stock valued at $110,668,000 after buying an additional 20,830 shares during the last quarter. Strs Ohio increased its position in Discover Financial Services by 3.6% in the second quarter. Strs Ohio now owns 1,414,965 shares of the financial services provider’s stock valued at $75,827,000 after buying an additional 49,764 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in Discover Financial Services by 3.4% in the second quarter. Candriam Luxembourg S.C.A. now owns 431,645 shares of the financial services provider’s stock valued at $23,133,000 after buying an additional 14,369 shares during the last quarter. Hedge funds and other institutional investors own 85.10% 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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