Truist Financial Has Lowered Expectations for Discover Financial Services (NYSE:DFS) Stock Price

Discover Financial Services (NYSE:DFS) had its target price reduced by research analysts at Truist Financial from $262.00 to $219.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s price target would indicate a potential upside of 33.20% from the company’s current price.

DFS has been the topic of several other research reports. StockNews.com lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. JPMorgan Chase & Co. upped their price objective on shares of Discover Financial Services from $146.00 to $169.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Barclays lifted their target price on Discover Financial Services from $186.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Royal Bank of Canada increased their price target on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods lifted their price objective on Discover Financial Services from $170.00 to $232.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $188.00.

Discover Financial Services Stock Up 1.4 %

NYSE:DFS opened at $164.41 on Friday. The company has a market cap of $41.37 billion, a price-to-earnings ratio of 10.30, a P/E/G ratio of 1.51 and a beta of 1.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.03 and a current ratio of 1.09. The stock’s fifty day moving average price is $186.28 and its two-hundred day moving average price is $168.46. Discover Financial Services has a 52-week low of $119.31 and a 52-week high of $205.76.

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

Institutional Investors Weigh In On Discover Financial Services

Several large investors have recently made changes to their positions in the stock. Hemington Wealth Management grew its position in shares of Discover Financial Services by 11.0% in the 4th quarter. Hemington Wealth Management now owns 503 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 50 shares during the period. Rehmann Capital Advisory Group lifted its stake in Discover Financial Services by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 5,152 shares of the financial services provider’s stock valued at $892,000 after purchasing an additional 51 shares during the last quarter. UMB Bank n.a. grew its holdings in Discover Financial Services by 0.6% during the fourth quarter. UMB Bank n.a. now owns 9,248 shares of the financial services provider’s stock worth $1,602,000 after purchasing an additional 56 shares during the period. Stratos Wealth Partners LTD. increased its position in Discover Financial Services by 0.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,158 shares of the financial services provider’s stock worth $1,067,000 after buying an additional 57 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in Discover Financial Services by 4.2% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,411 shares of the financial services provider’s stock valued at $244,000 after buying an additional 57 shares during the period. 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.