Discover Financial Services (NYSE:DFS) CEO David W. Nelms sold 30,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $64.55, for a total value of $1,936,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Discover Financial Services (DFS) traded down 0.38% during mid-day trading on Wednesday, hitting $65.49. The stock had a trading volume of 2,200,602 shares. Discover Financial Services has a 1-year low of $53.91 and a 1-year high of $74.33. The firm’s 50-day moving average price is $60.38 and its 200-day moving average price is $61.83. The stock 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 earnings results on Wednesday, July 26th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.05). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.40 billion. Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The business’s revenue was up 9.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.47 earnings per share. On average, equities analysts expect that Discover Financial Services will post $5.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Thursday, August 24th were issued a $0.35 dividend. The ex-dividend date was Tuesday, August 22nd. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 2.14%. Discover Financial Services’s dividend payout ratio is currently 24.18%.

Discover Financial Services declared that its board has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $2.23 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 9.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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A number of research firms recently issued reports on DFS. Buckingham Research began coverage on Discover Financial Services in a report on Monday. They set a “buy” rating and a $74.00 price objective for the company. Barclays PLC reiterated an “equal weight” rating and set a $70.00 price objective (down from $79.00) on shares of Discover Financial Services in a report on Thursday, July 13th. ValuEngine upgraded 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 price objective on Discover Financial Services and gave the stock a “buy” rating in a report on Wednesday, July 26th. Finally, Zacks Investment Research downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company’s stock. Discover Financial Services has a consensus rating of “Buy” and an average price target of $73.95.

Hedge funds have recently added to or reduced their stakes in the company. V Wealth Management LLC bought a new position in shares of Discover Financial Services in the second quarter valued at approximately $101,000. FNY Managed Accounts LLC bought a new position in shares of Discover Financial Services in the first quarter valued at approximately $124,000. Orrstown Financial Services Inc. grew its holdings in shares of Discover Financial Services by 16.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock valued at $125,000 after acquiring an additional 286 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of 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 acquiring an additional 48 shares in the last quarter. Finally, Capstone Investment Advisors Netherlands B.V. bought a new position in shares of Discover Financial Services in the second quarter valued at approximately $157,000. 85.45% of the stock is owned by institutional investors.

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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