Discover Financial Services (NYSE:DFS) had its price objective lifted by research analysts at JMP Securities from $63.00 to $71.00 in a report issued on Tuesday. The brokerage currently has a “market outperform” rating on the financial services provider’s stock. JMP Securities’ price objective would suggest a potential upside of 3.98% from the company’s current price.

Several other equities research analysts also recently issued reports on the stock. Stephens began coverage on shares of Discover Financial Services in a research note on Friday, November 18th. They set an “underweight” rating and a $62.00 price target on the stock. Zacks Investment Research downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, November 17th. Jefferies Group reissued a “buy” rating and issued a $70.00 target price on shares of Discover Financial Services in a research report on Friday, October 28th. Wedbush began coverage on shares of Discover Financial Services in a research report on Monday, October 10th. They issued a “neutral” rating and a $63.00 target price for the company. Finally, Deutsche Bank AG set a $65.00 target price on shares of Discover Financial Services and gave the stock a “buy” rating in a research report on Wednesday, October 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. Discover Financial Services has an average rating of “Buy” and an average target price of $64.37.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

Shares of Discover Financial Services (NYSE:DFS) opened at 68.28 on Tuesday. Discover Financial Services has a 12 month low of $42.86 and a 12 month high of $68.34. The firm has a market cap of $26.93 billion, a P/E ratio of 12.43 and a beta of 1.39. The company has a 50-day moving average of $58.93 and a 200-day moving average of $57.02.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Tuesday, November 1st. Discover Financial Services’s dividend payout ratio is currently 21.74%.

In other news, CFO R. Mark Graf sold 25,032 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $56.78, for a total value of $1,421,316.96. Following the completion of the sale, the chief financial officer now directly owns 116,052 shares of the company’s stock, valued at approximately $6,589,432.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David W. Nelms sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $56.46, for a total transaction of $846,900.00. Following the completion of the sale, the chief executive officer now directly owns 1,727,268 shares of the company’s stock, valued at $97,521,551.28. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the company. Financial Architects Inc raised its stake in shares of 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 worth $100,000 after buying an additional 1,652 shares in the last quarter. Evercore Wealth Management LLC increased its stake in 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 worth $107,000 after buying an additional 396 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Discover Financial Services by 18.8% in the third quarter. Acrospire Investment Management LLC now owns 1,900 shares of the financial services provider’s stock worth $107,000 after buying an additional 300 shares during the last quarter. Cable Hill Partners LLC increased its stake in Discover Financial Services by 112.1% in the third quarter. Cable Hill Partners LLC now owns 1,926 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,018 shares during the last quarter. Finally, Mycio Wealth Partners LLC increased its stake in 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 worth $110,000 after buying an additional 625 shares during the last quarter. 85.10% of the stock is owned by institutional investors.

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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.

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