Discover Financial Services (NYSE:DFS) released its quarterly earnings results on Wednesday. The financial services provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.45 by $0.05, Briefing.com reports. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.40 billion. Discover Financial Services had a return on equity of 21.86% and a net margin of 22.08%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.47 EPS.

Shares of Discover Financial Services (DFS) traded down 4.26% during trading on Thursday, hitting $60.44. The stock had a trading volume of 7,624,609 shares. The company has a market capitalization of $22.98 billion, a price-to-earnings ratio of 10.32 and a beta of 1.47. Discover Financial Services has a 1-year low of $53.91 and a 1-year high of $74.33. The firm has a 50 day moving average of $61.22 and a 200 day moving average of $65.30.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 24th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.32%. The ex-dividend date is Tuesday, August 22nd. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.30. Discover Financial Services’s payout ratio is presently 20.48%.

Discover Financial Services declared that its Board of Directors has authorized a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $2.23 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 9.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Several equities research analysts recently weighed in on DFS shares. Rafferty Capital Markets reaffirmed a “hold” rating and issued a $70.00 price objective on shares of Discover Financial Services in a report on Wednesday, March 29th. Evercore ISI reduced their price objective on shares of Discover Financial Services from $79.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Discover Financial Services in a report on Friday, April 7th. BMO Capital Markets reaffirmed a “hold” rating and issued a $68.00 price objective on shares of Discover Financial Services in a report on Tuesday, April 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Discover Financial Services in a report on Monday, April 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $75.22.

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In other news, EVP Carlos Minetti sold 8,000 shares of Discover Financial Services stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $62.42, for a total transaction of $499,360.00. Following the transaction, the executive vice president now owns 205,149 shares in the company, valued at approximately $12,805,400.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $62.18, for a total value of $1,865,400.00. Following the transaction, the chief executive officer now owns 1,674,732 shares in the company, valued at approximately $104,134,835.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 103,516 shares of company stock worth $6,456,648. Company insiders own 0.96% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Jaffetilchin Investment Partners LLC boosted its position in Discover Financial Services by 0.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 3,230 shares of the financial services provider’s stock valued at $221,000 after buying an additional 24 shares during the period. Court Place Advisors LLC boosted its position in Discover Financial Services by 0.7% in the first quarter. Court Place Advisors LLC now owns 5,831 shares of the financial services provider’s stock valued at $399,000 after buying an additional 39 shares during the period. Quadrant Capital Group LLC boosted its position in Discover Financial Services by 1.1% in the first quarter. Quadrant Capital Group LLC now owns 4,296 shares of the financial services provider’s stock valued at $287,000 after buying an additional 46 shares during the period. Perigon Wealth Management LLC boosted its position in 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 buying an additional 48 shares during the period. Finally, Park National Corp OH boosted its position in Discover Financial Services by 0.9% in the first quarter. Park National Corp OH now owns 7,934 shares of the financial services provider’s stock valued at $543,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 84.13% 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.

Earnings History for Discover Financial Services (NYSE:DFS)

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