Traders 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 Thursday. $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
DFS has been the topic of a number of research analyst reports. Wells Fargo & Co. reiterated a “buy” rating on shares of Discover Financial Services in a research report on Saturday, July 9th. Nomura reiterated a “buy” rating on shares of Discover Financial Services in a research report on Saturday, July 9th. RBC Capital Markets reissued a “top pick” rating and set a $73.00 price target (up previously from $68.00) on shares of Discover Financial Services in a report on Wednesday, July 20th. Macquarie lowered Discover Financial Services from an “outperform” rating to a “neutral” rating and set a $59.00 price target on the stock. in a report on Wednesday, May 11th. They noted that the move was a valuation call. Finally, Evercore ISI reissued a “buy” rating and set a $59.00 price target 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 given a strong buy rating to the stock. Discover Financial Services currently has an average rating of “Buy” and a consensus price target of $63.79.
The stock’s 50 day moving average is $57.50 and its 200 day moving average is $53.80. The company has a market capitalization of $24.06 billion and a P/E ratio of 11.20.
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, beating analysts’ consensus estimates of $1.42 by $0.05. Equities analysts predict that Discover Financial Services will post $5.72 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 18th. Stockholders of record on Thursday, August 4th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.01%. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.28.
In related news, CEO David W. Nelms sold 15,000 shares of the firm’s stock in a transaction on Friday, July 1st. The shares were sold at an average price of $53.61, for a total value of $804,150.00. Following the transaction, the chief executive officer now directly owns 1,772,014 shares in the company, valued at approximately $94,997,670.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Roger C. Hochschild sold 10,000 shares of the firm’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $56.74, for a total transaction of $567,400.00. Following the completion of the transaction, the chief operating officer now owns 855,772 shares in the company, valued at $48,556,503.28. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Discover Financial Services stock. US Bancorp DE boosted its position in shares of Discover Financial Services (NYSE:DFS) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (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 0.06% of Discover Financial Services worth $14,597,000 as of its most recent filing with the SEC.
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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