JPMorgan Chase & Co. Issues Positive Forecast for Discover Financial Services (NYSE:DFS) Stock Price

Discover Financial Services (NYSE:DFS) had its target price lifted by JPMorgan Chase & Co. from $146.00 to $169.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 16.57% from the company’s previous close.

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods boosted 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 report on Monday, December 9th. UBS Group upgraded shares of Discover Financial Services from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $150.00 to $239.00 in a research note on Monday, January 13th. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company increased their price target on Discover Financial Services from $185.00 to $214.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Barclays boosted their target price on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $177.07.

Discover Financial Services Stock Up 0.8 %

DFS stock traded up $1.60 during mid-day trading on Friday, hitting $202.56. 427,299 shares of the company were exchanged, compared to its average volume of 1,496,616. The firm has a market cap of $50.90 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.15 and a beta of 1.46. Discover Financial Services has a 1-year low of $101.71 and a 1-year high of $204.93. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.10. The firm’s 50 day simple moving average is $178.30 and its 200 day simple moving average is $154.01.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 27.52% and a net margin of 17.29%. On average, sell-side analysts predict that Discover Financial Services will post 12.82 EPS for the current fiscal year.

Institutional Trading of Discover Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in the company. UMB Bank n.a. grew its position in Discover Financial Services by 0.6% in the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock valued at $1,602,000 after acquiring an additional 56 shares during the last quarter. Invst LLC grew its holdings in shares of Discover Financial Services by 0.9% during the third quarter. Invst LLC now owns 7,253 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 62 shares during the last quarter. CTC Alternative Strategies Ltd. grew its holdings in Discover Financial Services by 3.2% during the 3rd quarter. CTC Alternative Strategies Ltd. now owns 2,047 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 63 shares during the last quarter. Eagle Bluffs Wealth Management LLC lifted its holdings in shares of Discover Financial Services by 0.5% during the third quarter. Eagle Bluffs Wealth Management LLC now owns 14,501 shares of the financial services provider’s stock worth $2,034,000 after purchasing an additional 67 shares during the period. Finally, Perigon Wealth Management LLC lifted its holdings in Discover Financial Services by 3.5% during the 4th quarter. Perigon Wealth Management LLC now owns 1,967 shares of the financial services provider’s stock worth $364,000 after buying an additional 67 shares during the period. 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.