Market Runner: Discover Financial Services Sets All-Time High; Strong Momentum for Holders

Market Runner: Discover Financial Services Sets All Time High; Strong Momentum for Holders

The stock of Discover Financial Services (NYSE:DFS) reached all time high today, Nov, 14 and still has $108.88 target or 65.00% above today’s $65.99 share price. This indicates more upside for the $26.42 billion company. This technical setup was reported by Barchart.com. If the $108.88 PT is reached, the company will be worth $17.17B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 4.19M shares traded hands or 49.11% up from the average. Discover Financial Services (NYSE:DFS) has risen 25.40% since April 12, 2016 and is uptrending. It has outperformed by 20.42% 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. The firm earned “Top Pick” rating on Wednesday, July 20 by RBC Capital Markets. The rating was maintained by RBC Capital Markets on Thursday, January 28 with “Top Pick”. The firm earned “Outperform” rating on Monday, October 5 by Bernstein. The rating was downgraded by Bank of America on Thursday, February 11 to “Neutral”. Deutsche Bank upgraded the shares of DFS in a report on Thursday, January 7 to “Buy” rating. Stifel Nicolaus maintained the stock with “Buy” rating in Thursday, July 23 report. The firm earned “Outperform” rating on Wednesday, July 20 by Credit Suisse. The stock of Discover Financial Services (NYSE:DFS) has “Outperform” rating given on Tuesday, October 6 by Oppenheimer. The rating was initiated by DA Davidson with “Buy” on Wednesday, January 13. Deutsche Bank maintained Discover Financial Services (NYSE:DFS) on Thursday, February 18 with “Hold” 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 improved, 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.
Glenmede Tru Commerce Na last reported 287,607 shares in the company. Dorsey & Whitney Ltd Limited Liability Company accumulated 3,988 shares or 0.05% of the stock. Marshall Wace Ltd Liability Partnership holds 895,000 shares or 0.4% of its portfolio. Piedmont Advisors Ltd Co holds 132,095 shares or 0% of its portfolio. Architects reported 1,880 shares or 0.03% of all its holdings. Neuberger Berman Group Ltd Liability has 40,605 shares for 0% of their US portfolio. Tradewinds Mngmt Limited Company holds 495 shares or 0.02% of its portfolio. Livforsakringsbolaget Skandia Omsesidigt holds 0.14% of its portfolio in Discover Financial Services (NYSE:DFS) for 59,149 shares. Teacher Retirement Systems Of Texas has 37,317 shares for 0.01% of their US portfolio. Airain Limited has 23,239 shares for 0.07% of their US portfolio. Keybank National Association Oh accumulated 226,159 shares or 0.08% of the stock. Hermes Mgmt reported 7,600 shares or 0.01% of all its holdings. Cetera Advisor Limited Liability Com last reported 5,636 shares in the company. Mycio Wealth Prns Ltd Com last reported 0.02% of its portfolio in the stock. Vision Mngmt holds 82,217 shares or 1.87% of its portfolio.

More recent Discover Financial Services (NYSE:DFS) news were published by: Seekingalpha.com which released: “Discover Financial Services (DFS) Q3 2016 Results – Earnings Call Transcript” on October 26, 2016. Also Nasdaq.com published the news titled: “Ex-Dividend Reminder: Discover Financial Services, Adtran and Franklin Electric” on October 28, 2016. Seekingalpha.com‘s news article titled: “Discover Financial Services: A Well Managed Company With Multiple Growth …” with publication date: October 17, 2016 was also an interesting one.

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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