Barclays PLC set a $73.00 target price on Discover Financial Services (NYSE:DFS) in a research note released on Wednesday. The firm currently has a hold rating on the financial services provider’s stock.
Other equities analysts have also issued reports about the company. BidaskClub lowered Discover Financial Services from a hold rating to a sell rating in a report on Tuesday, August 1st. Zacks Investment Research lowered Discover Financial Services from a hold rating to a sell rating in a report on Monday, July 31st. Jefferies Group LLC reaffirmed a buy rating and set a $75.00 target price (down from $82.00) on shares of Discover Financial Services in a report on Thursday, July 27th. Compass Point lowered Discover Financial Services from a buy rating to a neutral rating in a report on Wednesday. Finally, Nomura lowered their target price on Discover Financial Services from $81.00 to $79.00 and set a buy rating for the company in a report on Wednesday. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $74.45.
Discover Financial Services (NYSE DFS) traded up 0.13% on Wednesday, reaching $66.78. The company had a trading volume of 1,713,309 shares. The stock has a 50 day moving average of $63.43 and a 200 day moving average of $61.68. Discover Financial Services has a 12 month low of $55.41 and a 12 month high of $74.33. The firm has a market capitalization of $24.87 billion, a PE ratio of 11.52 and a beta of 1.47.
Discover Financial Services (NYSE:DFS) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $1.40 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.45 by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. Discover Financial Services had a net margin of 20.04% and a return on equity of 20.74%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. On average, analysts anticipate that Discover Financial Services will post $5.96 EPS for the current year.
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Discover Financial Services announced that its Board of Directors has approved a share repurchase plan on Tuesday, July 25th that authorizes the company to buyback $2.75 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 11.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.10%. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.05%.
In other news, COO Roger C. Hochschild sold 15,258 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $64.87, for a total value of $989,786.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Edward W. Mcgrogan sold 1,228 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $61.06, for a total value of $74,981.68. Following the completion of the sale, the senior vice president now owns 13,085 shares of the company’s stock, valued at approximately $798,970.10. The disclosure for this sale can be found here. Insiders have sold a total of 157,002 shares of company stock valued at $9,694,424 in the last quarter. Insiders own 0.96% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DFS. V Wealth Management LLC purchased a new stake in shares of Discover Financial Services in the second quarter valued at $101,000. FNY Managed Accounts LLC purchased a new stake in shares of Discover Financial Services in the first quarter valued at $124,000. Orrstown Financial Services Inc. lifted its holdings in shares of Discover Financial Services by 16.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock valued at $125,000 after purchasing an additional 286 shares in the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Discover Financial Services by 2.3% in the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 48 shares in the last quarter. Finally, Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Discover Financial Services in the second quarter valued at $157,000. Institutional investors own 85.41% of the company’s stock.
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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