Discover Financial Services (DFS) Hits New 1-Year High at $58.75
Discover Financial Services (NYSE:DFS)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $58.75 and last traded at $58.42, with a volume of 1,573,778 shares. The stock had previously closed at $58.01.
DFS has been the subject of a number of research reports. Wells Fargo & Co. reiterated a “buy” rating on shares of Discover Financial Services in a report on Saturday, July 9th. Nomura reiterated a “buy” rating on shares of Discover Financial Services in a report on Saturday, July 9th. RBC Capital Markets reiterated a “top pick” rating and set a $73.00 target price (up previously from $68.00) on shares of Discover Financial Services in a report on Wednesday, July 20th. Macquarie cut Discover Financial Services from an “outperform” rating to a “neutral” rating and set a $59.00 target price for the company. in a report on Wednesday, May 11th. They noted that the move was a valuation call. Finally, Evercore ISI reiterated a “buy” rating and set a $59.00 target price on shares of Discover Financial Services in a report on Wednesday, June 15th. Five analysts have rated the stock with a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.62.
The stock has a market cap of $23.57 billion and a price-to-earnings ratio of 10.97. The stock’s 50-day moving average price is $57.02 and its 200 day moving average price is $53.33.
Discover Financial Services (NYSE:DFS) last released its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.05. Equities analysts anticipate that Discover Financial Services will post $5.72 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 18th. Shareholders of record on Thursday, August 4th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Tuesday, August 2nd. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.28.
In other Discover Financial Services news, Director Mary K. Bush sold 2,229 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $56.98, for a total value of $127,008.42. Following the transaction, the director now directly owns 54,425 shares in the company, valued at $3,101,136.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Edward W. Mcgrogan sold 1,300 shares of the business’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $56.69, for a total transaction of $73,697.00. Following the completion of the transaction, the senior vice president now owns 12,072 shares in the company, valued at $684,361.68. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its position in Discover Financial Services by 66.6% in the fourth quarter. Victory Capital Management Inc. now owns 24,291 shares of the financial services provider’s stock worth $1,302,000 after buying an additional 9,713 shares during the last quarter. US Bancorp DE boosted its position in Discover Financial Services by 8.4% in the fourth quarter. US Bancorp DE now owns 272,217 shares of the financial services provider’s stock worth $14,597,000 after buying an additional 21,177 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Discover Financial Services by 26.4% in the fourth quarter. Ameriprise Financial Inc. now owns 1,057,688 shares of the financial services provider’s stock worth $56,710,000 after buying an additional 220,978 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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