Discover Financial Services (NYSE:DFS) announced a quarterly dividend on Thursday, January 18th, RTT News reports. Shareholders of record on Thursday, February 22nd will be paid a dividend of 0.35 per share by the financial services provider on Thursday, March 8th. This represents a $1.40 annualized dividend and a yield of 1.83%. The ex-dividend date is Wednesday, February 21st.
Discover Financial Services has increased its dividend payment by an average of 12.2% per year over the last three years and has increased its dividend every year for the last 7 years. Discover Financial Services has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Discover Financial Services to earn $8.43 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 16.6%.
Shares of Discover Financial Services (DFS) traded down $0.91 during midday trading on Wednesday, reaching $76.46. The company’s stock had a trading volume of 2,000,000 shares, compared to its average volume of 2,210,000. Discover Financial Services has a 52 week low of $57.50 and a 52 week high of $81.93. The company has a market capitalization of $27,780.00, a PE ratio of 12.85, a P/E/G ratio of 1.28 and a beta of 1.49. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 2.55.
Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, January 24th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.02. Discover Financial Services had a return on equity of 21.49% and a net margin of 17.95%. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $1.85 billion. equities analysts predict that Discover Financial Services will post 7.65 EPS for the current year.
In other news, SVP Daniel Peter Capozzi sold 5,000 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $79.97, for a total transaction of $399,850.00. Following the transaction, the senior vice president now directly owns 23,977 shares of the company’s stock, valued at $1,917,440.69. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Roger C. Hochschild sold 15,259 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $76.83, for a total value of $1,172,348.97. Following the transaction, the chief operating officer now directly owns 734,878 shares in the company, valued at $56,460,676.74. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 39,000 shares of company stock valued at $11,670 and have sold 242,674 shares valued at $19,140,541. 0.96% of the stock is owned by corporate insiders.
DFS has been the subject of several recent analyst reports. ValuEngine upgraded Discover Financial Services from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Argus upgraded Discover Financial Services from an “average” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Friday, January 26th. Instinet lowered their price target on Discover Financial Services from $96.00 to $94.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Morgan Stanley boosted their price target on Discover Financial Services from $79.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Finally, Barclays upgraded Discover Financial Services from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $73.00 to $93.00 in a report on Monday, December 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Discover Financial Services presently has a consensus rating of “Buy” and an average target price of $85.61.
Discover Financial Services Company Profile
Discover Financial Services (DFS) is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
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