Shares of Discover Financial Services (NYSE:DFS) have been given an average recommendation of “Buy” by the twenty-seven analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $73.29.

A number of research analysts have recently weighed in on the company. Evercore ISI cut their price target on Discover Financial Services from $79.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 26th. BMO Capital Markets restated a “hold” rating and issued a $68.00 price objective on shares of Discover Financial Services in a research report on Tuesday, April 11th. CIBC lowered their price objective on shares of Discover Financial Services from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 26th. Oppenheimer Holdings, Inc. lowered their price objective on shares of Discover Financial Services from $85.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday, April 26th. Finally, Bank of America Corporation cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $67.00 to $63.00 in a research report on Thursday, July 27th.

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In other Discover Financial Services news, SVP Edward W. Mcgrogan sold 1,228 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $61.06, for a total transaction of $74,981.68. Following the completion of the sale, the senior vice president now directly owns 13,085 shares in the company, valued at $798,970.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $62.52, for a total transaction of $1,875,600.00. The disclosure for this sale can be found here. Insiders have sold 107,744 shares of company stock valued at $6,658,830 over the last 90 days. Company insiders own 0.96% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Discover Financial Services by 3,280.4% in the first quarter. BlackRock Inc. now owns 30,704,582 shares of the financial services provider’s stock worth $2,099,886,000 after buying an additional 29,796,268 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Discover Financial Services by 1.3% in the first quarter. Vanguard Group Inc. now owns 25,530,944 shares of the financial services provider’s stock worth $1,746,060,000 after buying an additional 321,312 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Discover Financial Services by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 12,546,613 shares of the financial services provider’s stock worth $858,062,000 after buying an additional 91,440 shares during the period. Primecap Management Co. CA boosted its position in shares of Discover Financial Services by 19.5% in the first quarter. Primecap Management Co. CA now owns 6,681,700 shares of the financial services provider’s stock worth $456,961,000 after buying an additional 1,088,500 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Discover Financial Services by 10.6% in the first quarter. Bank of Montreal Can now owns 5,427,026 shares of the financial services provider’s stock worth $371,154,000 after buying an additional 520,197 shares during the period. Institutional investors own 86.76% of the company’s stock.

Shares of Discover Financial Services (NYSE:DFS) opened at 61.96 on Tuesday. The stock has a market cap of $23.07 billion, a PE ratio of 10.69 and a beta of 1.46. The firm has a 50-day moving average price of $61.26 and a 200-day moving average price of $64.84. Discover Financial Services has a 52 week low of $53.91 and a 52 week high of $74.33.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.45 by $0.05. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.40 billion. Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the company earned $1.47 EPS. On average, analysts forecast that Discover Financial Services will post $5.93 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a yield of 2.26%. Discover Financial Services’s dividend payout ratio (DPR) is 20.73%.

Discover Financial Services announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $2.23 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 9.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

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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