The stock of Discover Financial Services (NYSE:DFS) hit a new 52-week high and has $81.99 target or 36.00% above today’s $60.29 share price. The 6 months bullish chart indicates low risk for the $23.58 billion company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $81.99 price target is reached, the company will be worth $8.49 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 5.29% or $3.03 during the last trading session, hitting $60.29. About 4.16 million shares traded hands or 59.39% up from the average. Discover Financial Services (NYSE:DFS) has risen 13.93% since April 7, 2016 and is uptrending. It has outperformed by 9.15% the S&P500.
Discover Financial Services (NYSE:DFS) Ratings Coverage
Out of 21 analysts covering Discover Financial Services (NYSE:DFS), 13 rate it a “Buy”, 0 “Sell”, while 8 “Hold”. This means 62% are positive. Discover Financial Services has been the topic of 37 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Bank of America downgraded the stock to “Neutral” rating in Thursday, February 11 report. Goldman Sachs maintained it with “Buy” rating and $63 target price in Wednesday, April 20 report. The stock of Discover Financial Services (NYSE:DFS) earned “Buy” rating by Sterne Agee CRT on Thursday, September 10. On Thursday, January 14 the stock rating was downgraded by JP Morgan to “Neutral”. JP Morgan maintained Discover Financial Services (NYSE:DFS) on Wednesday, April 20 with “Neutral” rating. Credit Suisse maintained Discover Financial Services (NYSE:DFS) rating on Wednesday, July 20. Credit Suisse has “Outperform” rating and $56.98 price target. The stock of Discover Financial Services (NYSE:DFS) earned “Outperform” rating by JMP Securities on Tuesday, December 22. On Saturday, September 5 the stock rating was maintained by Bank of America with “Buy”. The stock has “Hold” rating given by Evercore on Tuesday, December 22. Oppenheimer maintained the shares of DFS in a report on Thursday, January 28 with “Outperform” rating.
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.”
Insitutional Activity: The institutional sentiment increased to 1.03 in 2016 Q2. Its up 0.18, from 0.85 in 2016Q1. The ratio is positive, as 47 funds sold all Discover Financial Services shares owned while 249 reduced positions. 73 funds bought stakes while 233 increased positions. They now own 333.34 million shares or 3.24% less from 344.50 million shares in 2016Q1.
Strategic Glob Advisors Limited Liability Co reported 24,742 shares or 0.5% of all its holdings. M&R Management has 400 shares for 0.01% of their US portfolio. Bedrijfstakpensioenfonds Voor De Media Pno last reported 17,400 shares in the company. Tompkins Fincl last reported 0.08% of its portfolio in the stock. The Australia-based Amp Cap Invsts Ltd has invested 0.11% in Discover Financial Services (NYSE:DFS). Cornerstone Management Limited Com holds 0.05% or 127,162 shares in its portfolio. Fifth Third Savings Bank, a Ohio-based fund reported 184,837 shares. Livingston Gru Asset Management (Operating As Southport Management) reported 33 shares or 0% of all its holdings. Provise Management Gru Ltd Liability Com last reported 0.07% of its portfolio in the stock. Commonwealth Bancorp Of, a Australia-based fund reported 56,796 shares. Diam Company has 43,845 shares for 0.03% of their US portfolio. Banque Pictet & Cie Sa has 0.24% invested in the company for 169,957 shares. Moreover, Gam Hldgs Ag has 0.06% invested in Discover Financial Services (NYSE:DFS) for 68,975 shares. Bbr Prtnrs Ltd Liability Co has 0.07% invested in the company for 7,688 shares. Richard Bernstein Limited Liability Corporation has 0.24% invested in the company for 46,459 shares.
More important recent Discover Financial Services (NYSE:DFS) news were published by: Forbes.com which released: “RSI Alert: Discover Financial Services Now Oversold” on October 13, 2016, also Seekingalpha.com published article titled: “Discover Financial Services (DFS) Q3 2016 Results – Earnings Call Transcript”, Nasdaq.com published: “Ex-Dividend Reminder: Discover Financial Services, Adtran and Franklin Electric” on October 28, 2016. More interesting news about Discover Financial Services (NYSE:DFS) was released by: Seekingalpha.com and their article: “Discover Financial Services: A Well Managed Company With Multiple Growth …” with publication date: October 17, 2016.
DFS Company Profile
Discover Financial Services (DFS), incorporated on July 25, 1960, is a direct banking and payment services company. The Firm is a bank holding company, as well as a financial holding company. The Firm operates through two divisions: Direct Banking and Payment Services. It provides direct banking services and products and payment services through its subsidiaries. It offers its clients credit card loans, private student loans, personal loans, home equity loans and deposit products.
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