Truist Financial Cuts Discover Financial Services (NYSE:DFS) Price Target to $219.00

Discover Financial Services (NYSE:DFS) had its target price dropped by Truist Financial from $262.00 to $219.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 33.20% from the company’s current price.

A number of other brokerages have also recently issued reports on DFS. UBS Group raised shares of Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the company from $150.00 to $239.00 in a research report on Monday, January 13th. Keefe, Bruyette & Woods increased their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Royal Bank of Canada lifted their price target on shares of Discover Financial Services from $193.00 to $210.00 and gave the company a “sector perform” rating in a research report on Friday, January 24th. StockNews.com cut Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. lifted their price objective on Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $188.00.

Discover Financial Services Stock Up 1.4 %

Discover Financial Services stock opened at $164.41 on Friday. The company’s 50-day moving average price is $186.28 and its two-hundred day moving average price is $168.46. The company has a quick ratio of 1.03, a current ratio of 1.09 and a debt-to-equity ratio of 1.09. The stock has a market cap of $41.37 billion, a P/E ratio of 10.30, a P/E/G ratio of 1.51 and a beta of 1.45. Discover Financial Services has a twelve month low of $119.31 and a twelve month high of $205.76.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. As a group, analysts expect that Discover Financial Services will post 13.88 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Discover Financial Services by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider’s stock worth $5,377,961,000 after purchasing an additional 290,937 shares in the last quarter. State Street Corp boosted its position in Discover Financial Services by 0.8% in the third quarter. State Street Corp now owns 10,498,044 shares of the financial services provider’s stock valued at $1,472,771,000 after buying an additional 80,601 shares in the last quarter. FMR LLC grew its stake in shares of Discover Financial Services by 0.8% during the fourth quarter. FMR LLC now owns 7,553,016 shares of the financial services provider’s stock worth $1,308,409,000 after buying an additional 59,154 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Discover Financial Services by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 6,240,451 shares of the financial services provider’s stock worth $1,082,826,000 after buying an additional 165,589 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Discover Financial Services in the 4th quarter valued at $724,720,000. Institutional investors own 86.94% of the company’s stock.

About Discover Financial Services

Discover Financial Services, through its subsidiaries, provides digital banking products and services, and payment services in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; personal loans, home loans, and other consumer lending; and direct-to-consumer deposit products comprising savings accounts, certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts and checking accounts, and sweep accounts.