Discover Financial Services (NYSE:DFS) had its price objective lowered by investment analysts at BMO Capital Markets from $69.00 to $67.00 in a research note issued on Wednesday, October 25th. The firm presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 3.46% from the stock’s previous close.
A number of other research firms also recently weighed in on DFS. Barclays PLC reissued an “equal weight” rating and set a $70.00 target price (down previously from $79.00) on shares of Discover Financial Services in a research report on Thursday, July 13th. Oppenheimer Holdings, Inc. set a $69.00 target price on shares of Discover Financial Services and gave the company a “buy” rating in a research report on Wednesday, July 26th. Compass Point downgraded shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 25th. Zacks Investment Research downgraded shares of Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, ValuEngine raised shares of Discover Financial Services from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. Discover Financial Services presently has an average rating of “Hold” and an average target price of $74.45.
Discover Financial Services (NYSE DFS) opened at $64.76 on Wednesday. The stock has a market cap of $23,532.53, a P/E ratio of 11.13, a P/E/G ratio of 1.71 and a beta of 1.52. Discover Financial Services has a fifty-two week low of $57.50 and a fifty-two week high of $74.33. 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 declared that its board has authorized a share buyback plan on Tuesday, July 25th that authorizes the company to buyback $2.75 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 11.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In other news, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $66.80, for a total transaction of $2,004,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $59.63, for a total value of $238,520.00. Following the transaction, the executive vice president now directly owns 150,744 shares of the company’s stock, valued at approximately $8,988,864.72. The disclosure for this sale can be found here. Insiders have sold a total of 172,277 shares of company stock valued at $11,020,650 in the last ninety days. Insiders own 0.96% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. V Wealth Management LLC bought a new stake in Discover Financial Services in the 2nd quarter worth approximately $101,000. FNY Managed Accounts LLC bought a new stake in Discover Financial Services in the 1st quarter worth approximately $124,000. Rational Advisors LLC bought a new stake in Discover Financial Services in the 3rd quarter worth approximately $123,000. Orrstown Financial Services Inc. lifted its position in Discover Financial Services by 16.7% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock worth $125,000 after buying an additional 286 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its position in Discover Financial Services by 2.3% in the 1st quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after buying an additional 48 shares during the last quarter. 88.02% of the stock is owned by institutional investors.
About Discover Financial Services
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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