Shares of Discover Financial Services (NYSE:DFS) gapped down before the market opened on Monday . The stock had previously closed at $54.76, but opened at $54.98. Discover Financial Services shares last traded at $55.71, with a volume of 1,404,772 shares.

A number of research firms have recently commented on DFS. Credit Suisse Group AG reiterated an “outperform” rating on shares of Discover Financial Services in a research report on Tuesday, July 5th. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Discover Financial Services in a research report on Thursday, June 9th. DA Davidson reiterated a “buy” rating and set a $62.00 target price on shares of Discover Financial Services in a research report on Friday. Macquarie cut Discover Financial Services from an “outperform” rating to a “neutral” rating and set a $59.00 target price on the stock. in a research report on Wednesday, May 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $62.82.

The firm has a market capitalization of $22.94 billion and a P/E ratio of 10.71. The firm’s 50-day moving average is $54.60 and its 200 day moving average is $51.56.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Tuesday, April 19th. The financial services provider reported $1.35 EPS for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.06. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same quarter in the prior year, the business earned $1.28 EPS. Discover Financial Services’s revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that Discover Financial Services will post $5.69 earnings per share for the current fiscal year.

In related news, CEO David W. Nelms sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $53.61, for a total transaction of $804,150.00. Following the transaction, the chief executive officer now owns 1,772,014 shares in the company, valued at $94,997,670.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Glenn P. Schneider sold 14,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The shares were sold at an average price of $56.51, for a total transaction of $819,395.00. Following the transaction, the executive vice president now owns 37,875 shares in the company, valued at approximately $2,140,316.25. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently bought and sold shares of DFS. Boston Partners raised its position in Discover Financial Services by 20.9% in the fourth quarter. Boston Partners now owns 14,758,676 shares of the financial services provider’s stock worth $791,360,000 after buying an additional 2,547,030 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its stake in shares of Discover Financial Services by 4.1% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 137,693 shares of the financial services provider’s stock worth $7,383,000 after buying an additional 5,385 shares during the last quarter. Krasney Financial LLC acquired a new stake in shares of Discover Financial Services during the fourth quarter worth $5,089,000. Calamos Advisors LLC boosted its stake in shares of Discover Financial Services by 17.7% in the fourth quarter. Calamos Advisors LLC now owns 230,628 shares of the financial services provider’s stock worth $12,366,000 after buying an additional 34,654 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Discover Financial Services by 15.6% in the fourth quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 197,500 shares of the financial services provider’s stock worth $10,590,000 after buying an additional 26,700 shares during the last quarter.

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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

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