Discover Financial Services (NYSE:DFS) – Equities researchers at Wedbush cut their Q1 2018 earnings per share (EPS) estimates for Discover Financial Services in a report released on Monday. Wedbush analyst H. Coffey now forecasts that the financial services provider will post earnings of $1.60 per share for the quarter, down from their prior forecast of $1.71. Wedbush also issued estimates for Discover Financial Services’ Q4 2018 earnings at $1.67 EPS.

Other analysts also recently issued reports about the company. BidaskClub downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research downgraded Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and issued a $75.00 price objective (down from $82.00) on shares of Discover Financial Services in a report on Thursday, July 27th. Compass Point downgraded Discover Financial Services from a “buy” rating to a “neutral” rating in a report on Wednesday, October 25th. Finally, Nomura decreased their price objective on Discover Financial Services from $81.00 to $79.00 and set a “buy” rating for the company in a report on Wednesday, October 25th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $74.45.

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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd will be paid a $0.35 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $1.40 annualized dividend and a yield of 2.10%. Discover Financial Services’s dividend payout ratio (DPR) is 24.05%.

Discover Financial Services declared that its board has approved a stock buyback program on Tuesday, July 25th that allows the company to repurchase $2.75 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 11.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

In other news, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $59.10, for a total transaction of $1,773,000.00. Following the completion of the sale, the chief executive officer now owns 1,529,912 shares in the company, valued at approximately $90,417,799.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $59.63, for a total transaction of $238,520.00. Following the sale, the executive vice president now owns 150,744 shares of the company’s stock, valued at approximately $8,988,864.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,019 shares of company stock valued at $7,464,129. Company insiders own 0.96% of the company’s stock.

Several hedge funds have recently modified their holdings of DFS. V Wealth Management LLC purchased a new stake in shares of Discover Financial Services during the 2nd quarter worth approximately $101,000. FNY Managed Accounts LLC purchased a new stake in shares of Discover Financial Services during the 1st quarter worth approximately $124,000. Orrstown Financial Services Inc. increased its stake in shares of Discover Financial Services by 16.7% during the 2nd quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 286 shares during the last quarter. Perigon Wealth Management LLC increased its stake in shares of Discover Financial Services by 2.3% during the 1st quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 48 shares during the last quarter. Finally, Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Discover Financial Services during the 2nd quarter worth approximately $157,000. Institutional investors own 86.40% of the company’s stock.

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.

Earnings History and Estimates for Discover Financial Services (NYSE:DFS)

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