Discover Financial Services (DFS) COO Roger C. Hochschild Sells 15,258 Shares
Discover Financial Services (NYSE:DFS) COO Roger C. Hochschild sold 15,258 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $64.87, for a total value of $989,786.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Discover Financial Services (NYSE: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. The stock has a 50-day moving average price of $60.38 and a 200 day moving average price of $61.83. The stock has a market cap of $24.39 billion, a P/E ratio of 11.30 and a beta of 1.47. Discover Financial Services has a 52 week low of $53.91 and a 52 week high of $74.33.
Discover Financial Services (NYSE:DFS) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.05). The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.40 billion. Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.47 EPS. On average, equities analysts forecast that Discover Financial Services will post $5.92 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 24th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Tuesday, August 22nd. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.30. Discover Financial Services’s dividend payout ratio (DPR) is 24.18%.
Discover Financial Services declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $2.23 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 9.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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A number of analysts have recently commented on the company. BidaskClub upgraded Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. 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. Barclays PLC restated 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. Buckingham Research assumed coverage on Discover Financial Services in a report on Monday. They set a “buy” rating and a $74.00 price objective for the company. Finally, Zacks Investment Research upgraded Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $73.95.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. raised its holdings in Discover Financial Services by 6.5% in the 2nd quarter. Prudential Financial Inc. now owns 921,150 shares of the financial services provider’s stock worth $57,286,000 after acquiring an additional 56,046 shares during the period. Calamos Advisors LLC raised its holdings in Discover Financial Services by 120.3% in the 2nd quarter. Calamos Advisors LLC now owns 634,391 shares of the financial services provider’s stock worth $39,453,000 after acquiring an additional 346,406 shares during the period. Annex Advisory Services LLC raised its holdings in Discover Financial Services by 23.9% in the 2nd quarter. Annex Advisory Services LLC now owns 15,686 shares of the financial services provider’s stock worth $975,000 after acquiring an additional 3,027 shares during the period. Bank of Nova Scotia raised its holdings in Discover Financial Services by 171.5% in the 1st quarter. Bank of Nova Scotia now owns 88,397 shares of the financial services provider’s stock worth $6,045,000 after acquiring an additional 55,840 shares during the period. Finally, Edge Asset Management Inc. raised its holdings in Discover Financial Services by 2.7% in the 1st quarter. Edge Asset Management Inc. now owns 2,561,054 shares of the financial services provider’s stock worth $175,151,000 after acquiring an additional 67,475 shares during the period. Hedge funds and other institutional investors own 85.45% 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.
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