Investors Sell Shares of Discover Financial Services (DFS) on Strength (DFS)
Traders sold shares of Discover Financial Services (NYSE:DFS) on strength during trading hours on Tuesday. $15.27 million flowed into the stock on the tick-up and $27.77 million flowed out of the stock on the tick-down, for a money net flow of $12.50 million out of the stock. Of all companies tracked, Discover Financial Services had the 0th highest net out-flow for the day. Discover Financial Services traded up $0.50 for the day and closed at $59.65
A number of brokerages have issued reports on DFS. Credit Suisse Group AG reissued a “buy” rating on shares of Discover Financial Services in a research note on Tuesday, August 23rd. Zacks Investment Research lowered Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Monday, May 9th. Deutsche Bank AG reissued a “buy” rating and issued a $63.00 price target on shares of Discover Financial Services in a research note on Thursday, August 18th. Nomura reissued a “buy” rating on shares of Discover Financial Services in a research note on Sunday, July 10th. Finally, Jefferies Group reissued a “buy” rating and issued a $66.00 price target on shares of Discover Financial Services in a research note on Wednesday, July 20th. Five investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Discover Financial Services presently has an average rating of “Buy” and a consensus price target of $63.62.
The stock has a market capitalization of $24.08 billion and a P/E ratio of 11.21. The company has a 50-day moving average of $57.39 and a 200 day moving average of $53.76.
Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data 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 research analysts expect that Discover Financial Services will post $5.72 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 18th. Investors of record on Thursday, August 4th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 2nd. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 2.01%.
In other news, Director Mary K. Bush sold 2,229 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $56.98, for a total value of $127,008.42. Following the completion of the transaction, the director now directly owns 54,425 shares of the company’s stock, valued at approximately $3,101,136.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Edward W. Mcgrogan sold 1,300 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $56.69, for a total value of $73,697.00. Following the completion of the transaction, the senior vice president now directly owns 12,072 shares of the company’s stock, valued at $684,361.68. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Discover Financial Services stock. US Bancorp DE increased its position in Discover Financial Services (NYSE:DFS) by 8.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 272,217 shares of the financial services provider’s stock after buying an additional 21,177 shares during the period. US Bancorp DE owned approximately 0.06% of Discover Financial Services worth $14,597,000 at the end of the most recent 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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