Discover Financial Services (NYSE:DFS) CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $69.93, for a total value of $2,097,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Discover Financial Services opened at $70.58 on Friday, according to MarketBeat. Discover Financial Services has a one year low of $57.50 and a one year high of $81.93. The stock has a market cap of $24.31 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 0.84 and a beta of 1.48. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 2.55.
Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, April 26th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.05. Discover Financial Services had a return on equity of 22.79% and a net margin of 18.43%. The business had revenue of $2.58 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm earned $1.43 EPS. Discover Financial Services’s revenue for the quarter was up 10.1% compared to the same quarter last year. research analysts anticipate that Discover Financial Services will post 7.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 7th. Investors of record on Thursday, May 24th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Wednesday, May 23rd. Discover Financial Services’s dividend payout ratio is presently 23.41%.
A number of institutional investors have recently made changes to their positions in DFS. AXA raised its position in Discover Financial Services by 13.1% in the 4th quarter. AXA now owns 120,785 shares of the financial services provider’s stock valued at $9,291,000 after buying an additional 14,035 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its position in Discover Financial Services by 273.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 2,509,493 shares of the financial services provider’s stock valued at $193,030,000 after buying an additional 1,837,913 shares during the last quarter. ETRADE Capital Management LLC raised its position in Discover Financial Services by 23.3% in the 4th quarter. ETRADE Capital Management LLC now owns 8,807 shares of the financial services provider’s stock valued at $677,000 after buying an additional 1,664 shares during the last quarter. Columbus Hill Capital Management L.P. raised its position in Discover Financial Services by 49.3% in the 4th quarter. Columbus Hill Capital Management L.P. now owns 1,049,039 shares of the financial services provider’s stock valued at $80,692,000 after buying an additional 346,189 shares during the last quarter. Finally, Pitcairn Co. raised its position in Discover Financial Services by 16.7% in the 4th quarter. Pitcairn Co. now owns 8,183 shares of the financial services provider’s stock valued at $629,000 after buying an additional 1,170 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.
DFS has been the topic of several recent research reports. Stephens upgraded Discover Financial Services from an “underweight” rating to an “equal” rating and set a $73.00 price target on the stock in a report on Monday, April 9th. Citigroup assumed coverage on Discover Financial Services in a report on Thursday, April 5th. They set a “neutral” rating and a $78.00 target price on the stock. Goldman Sachs Group cut Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Monday, April 16th. Zacks Investment Research cut Discover Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, March 28th. Finally, UBS Group assumed coverage on Discover Financial Services in a report on Tuesday, March 27th. They set a “sell” rating and a $70.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $85.14.
Discover Financial Services Company Profile
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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