JPMorgan Chase & Co. Has Lowered Expectations for Discover Financial Services (NYSE:DFS) Stock Price

Discover Financial Services (NYSE:DFS) had its target price cut by JPMorgan Chase & Co. from $169.00 to $129.00 in a report published on Tuesday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on the company. StockNews.com downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Truist Financial dropped their price target on shares of Discover Financial Services from $262.00 to $219.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Barclays upped their price objective on shares of Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods lifted their target price on shares of Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company upped their price target on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Friday, January 24th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $188.40.

Discover Financial Services Trading Down 7.5 %

Shares of Discover Financial Services stock opened at $158.01 on Tuesday. Discover Financial Services has a 1-year low of $119.31 and a 1-year high of $205.76. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.09 and a quick ratio of 1.03. The stock has a market cap of $39.76 billion, a P/E ratio of 9.90, a P/E/G ratio of 1.51 and a beta of 1.20. The stock’s 50 day simple moving average is $176.23 and its 200-day simple moving average is $171.71.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $5.11 EPS for the quarter, topping the consensus estimate of $3.13 by $1.98. Discover Financial Services had a return on equity of 26.18% and a net margin of 17.29%. Analysts predict that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Discover Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Friday, May 23rd. Discover Financial Services’s dividend payout ratio (DPR) is 17.54%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new position in Discover Financial Services in the fourth quarter valued at $33,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at about $34,000. Mattson Financial Services LLC purchased a new stake in shares of Discover Financial Services in the 4th quarter valued at about $34,000. Grove Bank & Trust boosted its position in shares of Discover Financial Services by 78.1% in the 4th quarter. Grove Bank & Trust now owns 203 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares during the period. Finally, Bfsg LLC purchased a new position in Discover Financial Services during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds 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.