Discover Financial Services (NYSE:DFS) Stock Upgrade
In a recent research report distributed earlier today, Argus has upgraded shares of Discover Financial Services (NYSE:DFS) to a solid “Buy” rating and has established an estimated 12-month Estimated Target Price of $60. DFS’s rating before this upgrade was a “Hold”.
From a total of 22 analysts covering Discover Financial Services (NYSE:DFS) stock, 22 rate it a ”Buy”, 0 a “Sell”, and 5 a ”Hold”. This means that 81% of the ratings are positive. The highest target price is $77 while the lowest target price is $59. The mean of all analyst targets is $67.45 with a 23.19% above today’s ($53.87) stock price. Discover Financial Services was the topic of 14 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. Oppenheimer maintained shares on October 21 with “Outperform” rating. Bank of America maintained shares with “Buy” rating and $70 target share price in a report from a September 5. RBC Capital Markets maintained DFS stock in a recent report from October 19 with “Top Pick” rating. Finally, Sterne Agee CRT initiated the stock with “Buy” rating in a report issued on a September 10.
The stock increased 2.51% or $1.32 during the last trading session, striking $53.87. Approximately shares of stock traded hands. Discover Financial Services (NYSE:DFS) has declined 9.80% since May 13, 2015 and is downtrending. It has underperformed by 7.17% the S&P500.
The overall sentiment of institutions has increased to 0.85 in Q2 2015. Its up 0.11, from 0.74 in 2015Q2. The ratio improved, as 86 institutions have sold all the shares of Discover Financial Services that they owned while 274 funds have taken shares off the table. 49 funds have purchased shares for the first time while 257 added to their positions. These institutions now hold 366.93 million shares or 2.47% more than the 358.10 million shares they owned in 2015Q2.
The Fund Seawolf Capital Llc currently is holding shares equating to 7.19% of its total portfolio in Discover Financial Services representing a total of 553,600 shares. Another fund,Tpg, is holding a total of 1.76 million shares equating to 7.12% of their holdings. Additionally, Boston Provident L.P. has a 148,832 share stake in Discover Financial Services which represents 6.6% of their total portfolio. The Fund, Senator Investment Group Lp, based out of New York, has also built up a stake in the stock, which represents a total of 6.36% of their total portfolio. Finally Zenit Asset Management Ab, a fund which is based in the state of Sweden reported a total holdings of 493,100 shares.
Discover Financial Services is a direct banking and payment services company. The company has a market cap of $22.46 billion. The Firm is a bank holding company, as well as a financial holding company. It has 11.1 P/E ratio. The Firm provides direct banking services and products and payment services through its subsidiaries.
According to Zacks Investment Research, “Discover Financial Services operates the Discover Card with more than fifty million cardmembers, the Discover Network with millions of merchant and cash access locations, and the Goldfish credit card business in the United Kingdom. Discover Financial Services also operates the pulse ATM/debit network, which serves more than four thousand four hundred financial institutions and includes nearly two lakhs sixty thousand ATMs, as well as POS terminals, nationwide.”