Discover Financial Services (NYSE:DFS) EVP Carlos Minetti sold 8,000 shares of Discover Financial Services stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $64.51, for a total transaction of $516,080.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Carlos Minetti also recently made the following trade(s):

  • On Tuesday, August 1st, Carlos Minetti sold 8,000 shares of Discover Financial Services stock. The shares were sold at an average price of $61.29, for a total transaction of $490,320.00.

Discover Financial Services (DFS) traded down 0.38% during midday trading on Wednesday, hitting $65.49. 2,200,602 shares of the stock traded hands. Discover Financial Services has a one year low of $53.91 and a one year high of $74.33. The company’s 50-day moving average is $60.38 and its 200-day moving average is $61.83. The company has a market cap of $24.39 billion, a PE ratio of 11.30 and a beta of 1.47.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.45 by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.40 billion. Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. Discover Financial Services’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.47 earnings per share. Equities research analysts expect that Discover Financial Services will post $5.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 24th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.14%. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, August 22nd. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.18%.

Discover Financial Services announced that its board has authorized a share buyback plan on Wednesday, June 28th that permits the company to buyback $2.23 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 9.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prudential Financial Inc. boosted its stake in Discover Financial Services by 6.5% during the 2nd quarter. Prudential Financial Inc. now owns 921,150 shares of the financial services provider’s stock valued at $57,286,000 after acquiring an additional 56,046 shares during the last quarter. Calamos Advisors LLC boosted its stake in Discover Financial Services by 120.3% during the 2nd quarter. Calamos Advisors LLC now owns 634,391 shares of the financial services provider’s stock valued at $39,453,000 after acquiring an additional 346,406 shares during the last quarter. Annex Advisory Services LLC boosted its stake in Discover Financial Services by 23.9% during the 2nd quarter. Annex Advisory Services LLC now owns 15,686 shares of the financial services provider’s stock valued at $975,000 after acquiring an additional 3,027 shares during the last quarter. Bank of Nova Scotia boosted its stake in Discover Financial Services by 171.5% during the 1st quarter. Bank of Nova Scotia now owns 88,397 shares of the financial services provider’s stock valued at $6,045,000 after acquiring an additional 55,840 shares during the last quarter. Finally, Edge Asset Management Inc. boosted its stake in Discover Financial Services by 2.7% during the 1st quarter. Edge Asset Management Inc. now owns 2,561,054 shares of the financial services provider’s stock valued at $175,151,000 after acquiring an additional 67,475 shares during the last quarter. 85.45% of the stock is owned by institutional investors and hedge funds.

Several analysts recently weighed in on the stock. Buckingham Research assumed coverage on shares of Discover Financial Services in a report on Monday. They issued a “buy” rating and a $74.00 target price for the company. Barclays PLC reiterated an “equal weight” rating and issued a $70.00 target price (down previously from $79.00) on shares of Discover Financial Services in a report on Thursday, July 13th. ValuEngine upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Oppenheimer Holdings, Inc. set a $69.00 target price on shares of Discover Financial Services and gave the company a “buy” rating in a report on Wednesday, July 26th. Finally, Zacks Investment Research downgraded shares of Discover Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $73.95.

About Discover Financial Services

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.

Insider Buying and Selling by Quarter for Discover Financial Services (NYSE:DFS)

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