Trade Report: Today, Brokerages Set Discover Financial Services (DFS) Target Price at $64.95

Today, Brokerages Set Discover Financial Services (DFS) Target Price at $64.95

Discover Financial Services (NYSE:DFS) has been given an average rating of “Buy” by the twenty-seven analysts that are currently covering the company. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, seventeen have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $65.50.

Several research analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research report on Friday. Barclays PLC cut shares of Discover Financial Services from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, September 7th. Wedbush assumed coverage on shares of Discover Financial Services in a research report on Monday, October 10th. They set a “neutral” rating and a $63.00 price target on the stock. Jefferies Group reissued a “buy” rating and set a $70.00 price target on shares of Discover Financial Services in a research report on Thursday, October 13th. Finally, Deutsche Bank AG set a $65.00 price target on shares of Discover Financial Services and gave the company a “buy” rating in a research report on Wednesday, October 5th.

In related news, CFO R. Mark Graf sold 25,032 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The shares were sold at an average price of $56.78, for a total transaction of $1,421,316.96. Following the sale, the chief financial officer now directly owns 116,052 shares in the company, valued at $6,589,432.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kathryn Mcnamara Corley sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $56.30, for a total transaction of $844,500.00. Following the sale, the executive vice president now owns 156,476 shares in the company, valued at $8,809,598.80. The disclosure for this sale can be found here. Corporate insiders own 1.07% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. LVM Capital Management Ltd. MI raised its stake in Discover Financial Services by 2.1% in the second quarter. LVM Capital Management Ltd. MI now owns 68,465 shares of the financial services provider’s stock worth $3,669,000 after buying an additional 1,415 shares during the last quarter. F&V Capital Management LLC purchased a new stake in Discover Financial Services during the second quarter worth $207,000. DNB Asset Management AS raised its stake in Discover Financial Services by 1.7% in the second quarter. DNB Asset Management AS now owns 36,315 shares of the financial services provider’s stock worth $1,946,000 after buying an additional 600 shares during the last quarter. British Columbia Investment Management Corp raised its stake in Discover Financial Services by 6.5% in the second quarter. British Columbia Investment Management Corp now owns 274,438 shares of the financial services provider’s stock worth $14,707,000 after buying an additional 16,800 shares during the last quarter. Finally, CenturyLink Investment Management Co purchased a new stake in Discover Financial Services during the second quarter worth $1,796,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Discover Financial Services (NYSE:DFS) opened at 68.41 on Wednesday. The firm’s 50-day moving average is $59.32 and its 200-day moving average is $57.11. The stock has a market cap of $26.98 billion, a P/E ratio of 12.45 and a beta of 1.39. Discover Financial Services has a 52-week low of $42.86 and a 52-week high of $68.88.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Thursday, November 3rd were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, November 1st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.75%. Discover Financial Services’s payout ratio is 21.74%.

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