Bank of America upgraded shares of Discover Financial Services (NYSE:DFS) from a neutral rating to a buy rating in a research report sent to investors on Monday. The brokerage currently has $83.00 price objective on the financial services provider’s stock.

DFS has been the topic of several other research reports. ValuEngine lowered shares of Discover Financial Services from a buy rating to a hold rating in a report on Wednesday, November 15th. Wells Fargo & Company started coverage on shares of Discover Financial Services in a report on Tuesday, October 10th. They issued a market perform rating and a $69.00 target price on the stock. Zacks Investment Research raised shares of Discover Financial Services from a sell rating to a hold rating in a report on Tuesday, August 29th. Buckingham Research started coverage on shares of Discover Financial Services in a report on Monday, October 2nd. They issued a buy rating and a $74.00 target price on the stock. Finally, Barclays raised shares of Discover Financial Services from an equal weight rating to an overweight rating and upped their target price for the stock from $73.00 to $93.00 in a report on Monday, December 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the stock. Discover Financial Services has an average rating of Buy and a consensus target price of $77.00.

Shares of Discover Financial Services (DFS) opened at $75.96 on Monday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.52. Discover Financial Services has a fifty-two week low of $57.50 and a fifty-two week high of $76.88. The firm has a market cap of $27,104.56, a PE ratio of 12.82, a PEG ratio of 1.97 and a beta of 1.53.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was Tuesday, November 21st. Discover Financial Services’s dividend payout ratio is currently 24.05%.

In other Discover Financial Services news, COO Roger C. Hochschild sold 15,258 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $70.54, for a total transaction of $1,076,299.32. Following the sale, the chief operating officer now owns 751,682 shares of the company’s stock, valued at approximately $53,023,648.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Carlos Minetti sold 8,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $64.51, for a total transaction of $516,080.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 183,277 shares of company stock worth $12,335,343. Insiders own 0.96% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in DFS. Global X Management Co. LLC lifted its position in Discover Financial Services by 13.5% during the 2nd quarter. Global X Management Co. LLC now owns 5,123 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 611 shares during the period. Advisors Asset Management Inc. lifted its position in Discover Financial Services by 3.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 19,740 shares of the financial services provider’s stock valued at $1,228,000 after purchasing an additional 607 shares during the period. State of Wisconsin Investment Board lifted its position in Discover Financial Services by 47.6% during the 2nd quarter. State of Wisconsin Investment Board now owns 270,372 shares of the financial services provider’s stock valued at $16,814,000 after purchasing an additional 87,160 shares during the period. Legal & General Group Plc lifted its position in Discover Financial Services by 0.3% during the 2nd quarter. Legal & General Group Plc now owns 1,894,370 shares of the financial services provider’s stock valued at $117,802,000 after purchasing an additional 5,786 shares during the period. Finally, Jennison Associates LLC lifted its position in Discover Financial Services by 16.6% during the 2nd quarter. Jennison Associates LLC now owns 16,323 shares of the financial services provider’s stock valued at $1,015,000 after purchasing an additional 2,326 shares during the period. 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.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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