JPMorgan Chase & Co. Cuts Discover Financial Services (NYSE:DFS) Price Target to $129.00

Discover Financial Services (NYSE:DFS) had its price target dropped by analysts at JPMorgan Chase & Co. from $169.00 to $129.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 17.16% from the company’s previous close.

Several other equities research analysts also recently weighed in on DFS. 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. UBS Group raised 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. Keefe, Bruyette & Woods upped their target price on Discover Financial Services from $170.00 to $232.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Wells Fargo & Company boosted their price target on Discover Financial Services from $185.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Friday, January 24th. Finally, Royal Bank of Canada boosted their price objective on Discover Financial Services from $193.00 to $210.00 and gave the stock a “sector perform” rating in a research report 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 company’s stock. According to MarketBeat, Discover Financial Services has an average rating of “Hold” and a consensus target price of $188.40.

Discover Financial Services Trading Up 3.2 %

Shares of DFS traded up $4.85 during mid-day trading on Tuesday, reaching $155.73. The company had a trading volume of 386,656 shares, compared to its average volume of 1,559,163. The stock has a market cap of $39.18 billion, a price-to-earnings ratio of 9.79, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. Discover Financial Services has a fifty-two week low of $119.31 and a fifty-two week high of $205.76. The company has a current ratio of 1.09, a quick ratio of 1.03 and a debt-to-equity ratio of 1.09. The firm has a fifty day simple moving average of $180.36 and a 200-day simple moving average of $171.47.

Discover Financial Services (NYSE:DFS) last released 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%. On average, sell-side analysts anticipate that Discover Financial Services will post 13.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Discover Financial Services

Large investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Discover Financial Services by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 31,045,208 shares of the financial services provider’s stock valued at $5,377,961,000 after buying an additional 290,937 shares during the last quarter. FMR LLC raised its position in shares of Discover Financial Services by 0.8% in the fourth quarter. FMR LLC now owns 7,553,016 shares of the financial services provider’s stock valued at $1,308,409,000 after purchasing an additional 59,154 shares during the period. Geode Capital Management LLC lifted its holdings in Discover Financial Services by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 6,240,451 shares of the financial services provider’s stock worth $1,082,826,000 after purchasing an additional 165,589 shares in the last quarter. Norges Bank bought a new stake in Discover Financial Services during the 4th quarter worth approximately $724,720,000. Finally, Invesco Ltd. increased its position in shares of Discover Financial Services by 38.5% in the fourth quarter. Invesco Ltd. now owns 2,974,471 shares of the financial services provider’s stock worth $515,268,000 after purchasing an additional 826,287 shares during the last quarter. 86.94% of the stock is currently owned by institutional investors and hedge funds.

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.