Discover Financial Services Expected to Earn Q4 2016 Earnings of $1.40 Per Share (DFS)
Discover Financial Services (NYSE:DFS) – Equities research analysts at DA Davidson upped their Q4 2016 earnings per share (EPS) estimates for Discover Financial Services in a note issued to investors on Thursday. DA Davidson analyst A. Cyganovich now anticipates that the firm will post earnings per share of $1.40 for the quarter, up from their previous forecast of $1.39. DA Davidson has a “Buy” rating and a $62.00 price target on the stock. DA Davidson also issued estimates for Discover Financial Services’ FY2018 earnings at $6.60 EPS.
Other equities research analysts also recently issued reports about the stock. Deutsche Bank AG restated a “buy” rating on shares of Discover Financial Services in a report on Sunday, June 26th. Nomura restated a “buy” rating on shares of Discover Financial Services in a report on Saturday, July 9th. Wells Fargo & Co. restated a “buy” rating on shares of Discover Financial Services in a report on Saturday, July 9th. JPMorgan Chase & Co. restated a “hold” rating on shares of Discover Financial Services in a report on Thursday, June 30th. Finally, Barclays PLC downgraded shares of Discover Financial Services from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, September 7th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $63.69.
Shares of Discover Financial Services (NYSE:DFS) opened at 54.82 on Monday. The stock has a 50 day moving average of $57.56 and a 200-day moving average of $55.74. The firm has a market capitalization of $22.13 billion, a price-to-earnings ratio of 10.30 and a beta of 1.20. Discover Financial Services has a one year low of $42.86 and a one year high of $60.29.
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A number of institutional investors have recently made changes to their positions in the stock. National Pension Service raised its position in shares of Discover Financial Services by 8.2% in the third quarter. National Pension Service now owns 339,843 shares of the financial services provider’s stock worth $19,218,000 after buying an additional 25,874 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co raised its position in Discover Financial Services by 1.3% in the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 25,005 shares of the financial services provider’s stock valued at $1,414,000 after buying an additional 325 shares during the period. MSI Financial Services Inc raised its position in Discover Financial Services by 0.4% in the third quarter. MSI Financial Services Inc now owns 10,530 shares of the financial services provider’s stock valued at $595,000 after buying an additional 39 shares during the period. AT Bancorp acquired a new position in Discover Financial Services during the third quarter valued at $1,209,000. Finally, Nisa Investment Advisors LLC raised its position in Discover Financial Services by 1.3% in the third quarter. Nisa Investment Advisors LLC now owns 211,006 shares of the financial services provider’s stock valued at $11,932,000 after buying an additional 2,724 shares during the period. Hedge funds and other institutional investors own 85.42% of the company’s stock.
In related news, CEO David W. Nelms sold 15,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $56.46, for a total value of $846,900.00. Following the completion of the transaction, the chief executive officer now owns 1,727,268 shares in the company, valued at approximately $97,521,551.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diane E. Offereins sold 10,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $56.45, for a total transaction of $564,500.00. Following the completion of the transaction, the executive vice president now owns 308,962 shares of the company’s stock, valued at approximately $17,440,904.90. The disclosure for this sale can be found here. 1.07% of the stock is currently owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 17th. Investors of record on Thursday, November 3rd will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.19%. Discover Financial Services’s dividend payout ratio is presently 22.47%.
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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.
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