Investors Sell 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 companies 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
A number of equities analysts have commented on DFS shares. Credit Suisse Group AG reissued a “buy” rating on shares of Discover Financial Services in a report on Tuesday, August 23rd. Zacks Investment Research cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, May 9th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $63.00 price target on shares of Discover Financial Services in a report on Thursday, August 18th. Nomura reaffirmed a “buy” rating on shares of Discover Financial Services in a report on Sunday, July 10th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $66.00 price target on shares of Discover Financial Services in a report on Wednesday, July 20th. Five research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $63.79.
The stock has a 50 day moving average price of $57.57 and a 200 day moving average price of $53.85. The firm has a market capitalization of $24.23 billion and a P/E ratio of 11.28.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.05. On average, analysts predict that Discover Financial Services will post $5.72 earnings per share for the current fiscal year.
The company also recently disclosed 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 2.00%. This is a positive change from Discover Financial Services’s previous quarterly dividend of $0.28.
In other news, COO Roger C. Hochschild sold 10,000 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $56.74, for a total transaction of $567,400.00. Following the completion of the sale, the chief operating officer now directly owns 855,772 shares in the company, valued at approximately $48,556,503.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David W. Nelms sold 15,000 shares of the company’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $53.61, for a total value of $804,150.00. Following the sale, the chief executive officer now owns 1,772,014 shares of the company’s stock, valued at $94,997,670.54. 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 Discover Financial Services (NYSE:DFS) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 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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