Discover Financial Services (NYSE:DFS) Earns “Market Perform” Rating from CIBC

CIBC restated their market perform rating on shares of Discover Financial Services (NYSE:DFS) in a report issued on Tuesday, May 7th, FirstToMarketsRatingsTable reports.

DFS has been the topic of several other reports. Bank of America set a $80.00 target price on shares of Discover Financial Services and gave the stock a buy rating in a report on Friday, January 25th. Royal Bank of Canada began coverage on shares of Discover Financial Services in a report on Friday, May 3rd. They set an outperform rating and a $96.00 target price on the stock. Oppenheimer cut shares of Discover Financial Services from an outperform rating to a market perform rating in a report on Tuesday, May 7th. BMO Capital Markets increased their target price on shares of Discover Financial Services to $92.00 and gave the stock a market perform rating in a report on Monday, April 29th. Finally, JMP Securities increased their target price on shares of Discover Financial Services from $74.00 to $80.00 and gave the stock a market outperform rating in a report on Thursday, April 4th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $81.69.

DFS stock traded down $0.59 during trading on Tuesday, hitting $75.93. The company had a trading volume of 724,287 shares, compared to its average volume of 2,046,736. The company has a market capitalization of $24.67 billion, a PE ratio of 9.75, a P/E/G ratio of 1.16 and a beta of 1.64. Discover Financial Services has a 52-week low of $54.36 and a 52-week high of $82.51. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.38 and a quick ratio of 1.38.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $2.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.13. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.76 billion. Discover Financial Services had a net margin of 20.98% and a return on equity of 26.34%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 EPS. Sell-side analysts forecast that Discover Financial Services will post 8.76 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Investors of record on Friday, May 24th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is presently 20.54%.

In other Discover Financial Services news, CFO R. Mark Graf sold 30,741 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $81.92, for a total transaction of $2,518,302.72. Following the completion of the transaction, the chief financial officer now directly owns 56,072 shares of the company’s stock, valued at approximately $4,593,418.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary K. Bush sold 496 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $77.53, for a total transaction of $38,454.88. Following the transaction, the director now directly owns 53,564 shares of the company’s stock, valued at $4,152,816.92. The disclosure for this sale can be found here. Insiders sold a total of 85,169 shares of company stock valued at $6,615,921 over the last quarter. 0.81% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Castle Rock Wealth Management LLC purchased a new position in shares of Discover Financial Services during the 1st quarter valued at approximately $9,820,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Discover Financial Services by 1.1% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 15,472 shares of the financial services provider’s stock valued at $1,101,000 after purchasing an additional 168 shares in the last quarter. Cobiz Wealth LLC increased its holdings in shares of Discover Financial Services by 0.4% during the 1st quarter. Cobiz Wealth LLC now owns 45,524 shares of the financial services provider’s stock valued at $3,408,000 after purchasing an additional 190 shares in the last quarter. Essex Savings Bank increased its holdings in shares of Discover Financial Services by 66.7% during the 1st quarter. Essex Savings Bank now owns 500 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 200 shares in the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Discover Financial Services by 4.1% during the 1st quarter. Assetmark Inc. now owns 5,691 shares of the financial services provider’s stock valued at $405,000 after purchasing an additional 224 shares in the last quarter. 84.96% of the stock is owned by institutional investors.

Discover Financial Services Company Profile

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

Read More: What is Cost of Debt?

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.