Insider Selling: Discover Financial Services SVP Sells 29,070 Shares of Stock (DFS)
Discover Financial Services (NYSE:DFS) SVP Glenn P. Schneider sold 29,070 shares of the stock on the open market in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $54.25, for a total transaction of $1,577,047.50. Following the completion of the transaction, the senior vice president now directly owns 39,433 shares in the company, valued at approximately $2,139,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Discover Financial Services (NYSE:DFS) traded down 2.37% on Wednesday, hitting $53.98. The stock had a trading volume of 3,837,339 shares. Discover Financial Services has a 52-week low of $37.24 and a 52-week high of $56.20. The stock’s 50-day moving average is $54.17 and its 200-day moving average is $51.74. The company has a market cap of $25.640 billion and a P/E ratio of 11.15.
Discover Financial Services (NYSE:DFS) last announced its earnings results on Thursday, January 23rd. The company reported $1.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.18 by $0.05. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.11 billion. Discover Financial Services’s revenue was up 5.6% compared to the same quarter last year. On average, analysts predict that Discover Financial Services will post $5.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 20th. Shareholders of record on Thursday, February 6th will be given a dividend of 0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, February 4th.
DFS has been the subject of a number of recent research reports. Analysts at Morgan Stanley upgraded shares of Discover Financial Services from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday. They now have a $66.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Discover Financial Services in a research note to investors on Friday, January 24th. They now have a $55.00 price target on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Discover Financial Services from $57.00 to $65.00 in a research note to investors on Friday, January 24th. They now have an “outperform” rating on the stock. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $57.70.
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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