Discover Financial Services (DFS) Receives Buy Rating from Royal Bank of Canada
Royal Bank of Canada reiterated their buy rating on shares of Discover Financial Services (NYSE:DFS) in a report released on Tuesday morning. The brokerage currently has a $107.00 price target on the financial services provider’s stock.
Other analysts also recently issued research reports about the stock. Oppenheimer set a $71.00 target price on shares of Discover Financial Services and gave the stock a buy rating in a research report on Tuesday, October 24th. Nomura dropped their target price on shares of Discover Financial Services from $81.00 to $79.00 and set a buy rating for the company in a research report on Wednesday, October 25th. Buckingham Research initiated coverage on shares of Discover Financial Services in a research report on Monday, October 2nd. They set a buy rating and a $74.00 target price for the company. ValuEngine raised shares of Discover Financial Services from a hold rating to a buy rating in a research report on Tuesday, September 26th. Finally, Wedbush set a $80.00 target price on shares of Discover Financial Services and gave the stock a buy rating in a research report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the stock. Discover Financial Services presently has a consensus rating of Buy and a consensus price target of $79.90.
Discover Financial Services (DFS) traded up $0.67 on Tuesday, reaching $78.24. 2,306,000 shares of the company were exchanged, compared to its average volume of 2,124,817. The firm has a market cap of $28,880.00, a P/E ratio of 13.47, a PEG ratio of 1.80 and a beta of 1.52. Discover Financial Services has a 12-month low of $57.50 and a 12-month high of $78.83. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.55.
In other news, EVP Kathryn Mcnamara Corley sold 4,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $76.81, for a total transaction of $307,240.00. Following the completion of the transaction, the executive vice president now directly owns 134,744 shares in the company, valued at approximately $10,349,686.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO R. Mark Graf sold 16,503 shares of the stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $66.67, for a total value of $1,100,255.01. Following the transaction, the chief financial officer now owns 82,402 shares of the company’s stock, valued at $5,493,741.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,277 shares of company stock valued at $12,673,925. Company insiders own 0.96% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Grove Bank & Trust lifted its stake in Discover Financial Services by 2,483.3% during the third quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,490 shares during the last quarter. Rational Advisors LLC bought a new position in Discover Financial Services during the third quarter worth $123,000. Americafirst Capital Management LLC bought a new position in Discover Financial Services during the third quarter worth $140,000. Capstone Investment Advisors Netherlands B.V. bought a new position in Discover Financial Services during the second quarter worth $157,000. Finally, San Francisco Sentry Investment Group CA bought a new position in Discover Financial Services during the second quarter worth $170,000. Institutional investors own 84.77% of the company’s stock.
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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.
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