Traders Sell Shares of Discover Financial Services (DFS) on Strength (DFS)
Investors sold shares of Discover Financial Services (NYSE:DFS) on strength during trading hours on Wednesday. $28.26 million flowed into the stock on the tick-up and $42.72 million flowed out of the stock on the tick-down, for a money net flow of $14.46 million out of the stock. Of all stocks tracked, Discover Financial Services had the 0th highest net out-flow for the day. Discover Financial Services traded up $0.35 for the day and closed at $60.00
Several equities analysts recently issued reports on DFS shares. Credit Suisse Group AG restated an “outperform” rating on shares of Discover Financial Services in a research note on Tuesday, July 5th. Deutsche Bank AG restated a “buy” rating and set a $63.00 price objective on shares of Discover Financial Services in a research note on Thursday, August 18th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Discover Financial Services in a research report on Thursday, June 9th. DA Davidson reaffirmed a “buy” rating and issued a $62.00 target price on shares of Discover Financial Services in a research report on Friday, July 8th. Finally, Nomura reaffirmed a “buy” rating on shares of Discover Financial Services in a research report on Sunday, July 10th. Five analysts have rated the stock with a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $63.62.
The stock’s 50 day moving average is $57.48 and its 200 day moving average is $53.80. The stock has a market capitalization of $24.22 billion and a price-to-earnings ratio of 11.27.
Discover Financial Services (NYSE:DFS) last released its earnings results on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. Equities research analysts anticipate that Discover Financial Services will post $5.72 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from Discover Financial Services’s previous quarterly dividend of $0.28.
In related news, COO Roger C. Hochschild sold 10,000 shares of the company’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $53.72, for a total value of $537,200.00. Following the completion of the sale, the chief operating officer now owns 865,772 shares in the company, valued at $46,509,271.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David W. Nelms sold 15,000 shares of the company’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $56.68, for a total value of $850,200.00. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Discover Financial Services stock. Ameriprise Financial Inc. increased its position in shares of Discover Financial Services (NYSE:DFS) by 26.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,057,688 shares of the financial services provider’s stock after buying an additional 220,978 shares during the period. Ameriprise Financial Inc. owned approximately 0.25% of Discover Financial Services worth $56,710,000 as of its most recent SEC filing.
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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