Discover Financial Services (NYSE:DFS) Price Target Cut to $146.00 by Analysts at JPMorgan Chase & Co.

Discover Financial Services (NYSE:DFS) had its price target decreased by JPMorgan Chase & Co. from $150.00 to $146.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 22.13% from the stock’s previous close.

Several other research analysts have also recently weighed in on DFS. Truist Financial assumed coverage on Discover Financial Services in a research report on Tuesday, January 7th. They set a “buy” rating and a $233.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Evercore ISI increased their target price on shares of Discover Financial Services from $156.00 to $163.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Discover Financial Services from $148.00 to $161.00 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Finally, Barclays raised Discover Financial Services from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $137.00 to $186.00 in a research report on Monday, January 6th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $164.75.

Discover Financial Services Stock Up 3.7 %

Discover Financial Services stock opened at $187.49 on Tuesday. The company’s 50-day moving average price is $176.40 and its two-hundred day moving average price is $151.42. The company has a quick ratio of 1.04, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The stock has a market cap of $47.12 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.12 and a beta of 1.46. Discover Financial Services has a twelve month low of $96.46 and a twelve month high of $188.99.

Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.28 by $0.41. The company had revenue of $5.91 billion for the quarter, compared to analyst estimates of $4.36 billion. Discover Financial Services had a return on equity of 21.38% and a net margin of 13.78%. During the same quarter last year, the company earned $2.59 earnings per share. As a group, analysts expect that Discover Financial Services will post 13.43 EPS for the current year.

Hedge Funds Weigh In On Discover Financial Services

A number of institutional investors have recently added to or reduced their stakes in the stock. DiNuzzo Private Wealth Inc. grew its position in Discover Financial Services by 506.5% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 188 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 157 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Discover Financial Services during the third quarter worth $30,000. Pinnacle Bancorp Inc. lifted its stake in shares of Discover Financial Services by 37.1% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 292 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 79 shares during the period. Venturi Wealth Management LLC lifted its stake in Discover Financial Services by 27.4% in the third quarter. Venturi Wealth Management LLC now owns 316 shares of the financial services provider’s stock valued at $44,000 after buying an additional 68 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new position in shares of Discover Financial Services during the 4th quarter valued at $47,000. 86.94% of the stock is currently owned by institutional investors and hedge funds.

Discover Financial Services Company Profile

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.