Insider Selling: Discover Financial Services CEO Sells 75,000 Shares of Stock (DFS)
Discover Financial Services (NYSE:DFS) CEO David Nelms sold 75,000 shares of the company’s stock on the open market in a transaction dated Friday, October 25th. The stock was sold at an average price of $51.01, for a total value of $3,825,750.00. Following the transaction, the chief executive officer now directly owns 1,747,650 shares in the company, valued at approximately $89,147,627. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Discover Financial Services (NYSE:DFS) traded up 1.78% during mid-day trading on Tuesday, hitting $52.62. The stock had a trading volume of 1,553,405 shares. Discover Financial Services has a 1-year low of $37.00 and a 1-year high of $51.70. The stock’s 50-day moving average is $49.53 and its 200-day moving average is $46.74. The company has a market cap of $25.205 billion and a P/E ratio of 11.59.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Monday, October 21st. The company reported $1.20 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.19 by $0.01. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.07 billion. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that Discover Financial Services will post $4.93 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, November 21st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Tuesday, November 5th.
Several analysts have recently commented on the stock. Analysts at Barclays reiterated a “buy” rating on shares of Discover Financial Services in a research note to investors on Sunday. They now have a $59.00 price target on the stock. Separately, analysts at Sterne Agee raised their price target on shares of Discover Financial Services from $54.00 to $58.00 in a research note to investors on Tuesday, October 22nd. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Discover Financial Services in a research note to investors on Tuesday, October 22nd. They now have a $62.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $56.23.
Discover Financial Services is a direct banking and payment services company. The Company is a bank holding company and a financial holding company.
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