Truist Financial Initiates Coverage on Discover Financial Services (NYSE:DFS)

Equities research analysts at Truist Financial assumed coverage on shares of Discover Financial Services (NYSE:DFS) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set a “buy” rating and a $233.00 price target on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 32.47% from the company’s current price.

DFS has been the topic of a number of other research reports. Evercore ISI raised their price objective on Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Discover Financial Services from $135.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, December 9th. Wells Fargo & Company increased their price objective on shares of Discover Financial Services from $160.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Friday, January 3rd. Royal Bank of Canada raised their target price on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a report on Friday, October 18th. Finally, StockNews.com downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Discover Financial Services presently has a consensus rating of “Hold” and a consensus target price of $160.07.

Discover Financial Services Stock Down 1.0 %

Discover Financial Services stock opened at $175.89 on Tuesday. The company’s 50-day moving average price is $174.36 and its two-hundred day moving average price is $149.88. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The stock has a market cap of $44.19 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.13 and a beta of 1.46. Discover Financial Services has a twelve month low of $96.46 and a twelve month high of $188.26.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. Discover Financial Services had a net margin of 13.78% and a return on equity of 21.38%. The business had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period last year, the firm earned $2.59 earnings per share. As a group, analysts expect that Discover Financial Services will post 13.43 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. raised its stake in Discover Financial Services by 506.5% during the third quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after buying an additional 157 shares during the last quarter. Y.D. More Investments Ltd raised its position in shares of Discover Financial Services by 147.8% in the 2nd quarter. Y.D. More Investments Ltd now owns 223 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 133 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Discover Financial Services in the 3rd quarter valued at about $30,000. Larson Financial Group LLC boosted its position in shares of Discover Financial Services by 348.2% during the 2nd quarter. Larson Financial Group LLC now owns 251 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 195 shares in the last quarter. Finally, Pinnacle Bancorp Inc. grew its stake in Discover Financial Services by 37.1% during the third quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 79 shares during the period. Institutional investors own 86.94% of the company’s stock.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.