The stock of Discover Financial Services (NYSE:DFS) hit a new 52-week high and has $69.08 target or 3.00% above today’s $67.07 share price. The 5 months bullish chart indicates low risk for the $26.61B company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $69.08 price target is reached, the company will be worth $798.30M 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. About 346,085 shares traded hands. Discover Financial Services (NYSE:DFS) has risen 17.22% since April 20, 2016 and is uptrending. It has outperformed by 12.67% 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. $75 is the highest target while $43 is the lowest. The $62.95 average target is -6.14% below today’s ($67.07) stock price. Discover Financial Services has been the topic of 37 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The company was maintained on Wednesday, October 5 by Deutsche Bank. The firm has “Neutral” rating by JP Morgan given on Wednesday, April 20. On Monday, October 19 the stock rating was maintained by RBC Capital Markets with “Top Pick”. As per Wednesday, April 20, the company rating was maintained by Bernstein. DA Davidson initiated Discover Financial Services (NYSE:DFS) on Wednesday, January 13 with “Buy” rating. On Thursday, January 7 the stock rating was upgraded by Deutsche Bank to “Buy”. The firm has “Neutral” rating by JP Morgan given on Thursday, January 14. The firm earned “Outperform” rating on Monday, October 5 by Bernstein. Sterne Agee CRT initiated the shares of DFS in a report on Thursday, September 10 with “Buy” rating. The firm has “Hold” rating given on Tuesday, December 22 by Evercore.
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 decreased to 0.99 in Q2 2016. Its down 0.04, from 1.03 in 2016Q1. The ratio turned negative, 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.
Moreover, Roffman Miller Associate Inc Pa has 1.41% invested in Discover Financial Services (NYSE:DFS) for 160,913 shares. Manufacturers Life The owns 1.73M shares or 0.14% of their US portfolio. Nwq Inv Mngmt Lc accumulated 1.77% or 1.92 million shares. Pictet National Bank & Trust Ltd last reported 0.08% of its portfolio in the stock. The Texas-based Matterhorn Cap Mgmt Ltd Limited Liability Company has invested 3.84% in Discover Financial Services (NYSE:DFS). Royal London Asset Management Limited holds 142,759 shares or 0.12% of its portfolio. The Illinois-based Perkins Mgmt Limited Liability Company has invested 0.03% in Discover Financial Services (NYSE:DFS). Janney Montgomery Scott Lc last reported 0.09% of its portfolio in the stock. Amalgamated Savings Bank has 0.08% invested in the company for 25,041 shares. Clinton Inc has 0.06% invested in the company for 27,199 shares. Pinebridge L P reported 236,500 shares or 0.65% of all its holdings. Corbyn Inv Mngmt Inc Md has 243,687 shares for 4.25% of their US portfolio. Moreover, Us Retail Bank De has 0.06% invested in Discover Financial Services (NYSE:DFS) for 310,919 shares. Meiji Yasuda Asset Mgmt Ltd accumulated 0.14% or 18,785 shares. Clearbridge Invs Limited Co has 1.34 million shares for 0.09% of their US portfolio.
More important recent Discover Financial Services (NYSE:DFS) news were published by: Businesswire.com which released: “Discover Financial Services to Present at J.P. Morgan FinTech & Specialty …” on November 14, 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: Reuters.com and their article: “BRIEF-Discover Financial Services credit card deliquency and charge-off ra…” with publication date: November 15, 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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