Discover Financial Services (NYSE:DFS) Director Cynthia A. Glassman sold 2,000 shares of Discover Financial Services stock in a transaction dated Tuesday, November 6th. The shares were sold at an average price of $69.50, for a total transaction of $139,000.00. Following the sale, the director now owns 54,032 shares of the company’s stock, valued at $3,755,224. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
NYSE DFS opened at $70.56 on Friday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.58. Discover Financial Services has a one year low of $63.31 and a one year high of $81.93. The company has a market capitalization of $23.77 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 0.73 and a beta of 1.50.
Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $2.05 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $2.05. Discover Financial Services had a net margin of 19.51% and a return on equity of 25.49%. The business had revenue of $2.72 billion during the quarter, compared to analyst estimates of $2.69 billion. Equities research analysts anticipate that Discover Financial Services will post 7.83 earnings per share for the current year.
Discover Financial Services declared that its board has approved a stock buyback plan on Thursday, July 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 11.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Wednesday, November 21st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Tuesday, November 20th. Discover Financial Services’s payout ratio is 26.76%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its stake in shares of Discover Financial Services by 111.7% in the third quarter. Canada Pension Plan Investment Board now owns 347,646 shares of the financial services provider’s stock valued at $26,578,000 after purchasing an additional 183,422 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Discover Financial Services by 0.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 113,274 shares of the financial services provider’s stock worth $8,660,000 after acquiring an additional 914 shares during the last quarter. Sustainable Insight Capital Management LLC purchased a new position in Discover Financial Services in the third quarter worth approximately $236,000. Ontario Teachers Pension Plan Board lifted its stake in Discover Financial Services by 30.2% in the third quarter. Ontario Teachers Pension Plan Board now owns 123,146 shares of the financial services provider’s stock worth $9,415,000 after acquiring an additional 28,585 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its stake in Discover Financial Services by 40.6% in the third quarter. CIBC World Markets Inc. now owns 39,928 shares of the financial services provider’s stock worth $3,052,000 after acquiring an additional 11,535 shares during the last quarter. 85.66% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the stock. Bank of America lifted their price target on shares of Discover Financial Services from $86.00 to $92.00 and gave the company a “buy” rating in a research report on Friday, September 21st. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Wednesday, September 26th. JPMorgan Chase & Co. upgraded shares of Discover Financial Services from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 2nd. Wells Fargo & Co lifted their price target on shares of Discover Financial Services from $76.00 to $82.00 and gave the company a “market perform” rating in a research report on Monday, October 1st. Finally, Sandler O’Neill reiterated a “buy” rating and set a $87.00 price target on shares of Discover Financial Services in a research report on Friday, July 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $86.80.
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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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