Discover Financial Services (DFS) Sets New 12-Month High at $58.75
Discover Financial Services (NYSE:DFS) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $58.75 and last traded at $58.42, with a volume of 1,573,778 shares traded. The stock had previously closed at $58.01.
Several equities research analysts have recently issued reports on DFS shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $63.00 price objective (up from $61.00) on shares of Discover Financial Services in a research report on Wednesday, May 4th. Zacks Investment Research raised shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research report on Thursday, May 5th. Macquarie cut shares of Discover Financial Services from an “outperform” rating to a “neutral” rating and set a $59.00 price target for the company. in a research report on Wednesday, May 11th. They noted that the move was a valuation call. Nomura reissued a “buy” rating and issued a $61.00 price target on shares of Discover Financial Services in a research report on Friday, May 27th. Finally, JPMorgan Chase & Co. reissued a “hold” rating on shares of Discover Financial Services in a research report on Thursday, June 9th. Five equities research 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 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 $23.60 billion and a price-to-earnings ratio of 10.98. The stock’s 50-day moving average is $57.16 and its 200 day moving average is $53.42.
Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.05. On average, analysts forecast that Discover Financial Services will post $5.72 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 18th. Investors of record on Thursday, August 4th were issued a $0.30 dividend. 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 dividend on an annualized basis and a dividend yield of 2.05%.
In other Discover Financial Services news, COO Roger C. Hochschild sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $53.72, for a total transaction of $537,200.00. Following the transaction, the chief operating officer now owns 865,772 shares of the company’s stock, valued at approximately $46,509,271.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David W. Nelms sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, June 1st. The shares were sold at an average price of $55.96, for a total transaction of $839,400.00. Following the transaction, the chief executive officer now directly owns 1,787,014 shares in the company, valued at approximately $100,001,303.44. 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 stake in shares of Discover Financial Services (NYSE:DFS) by 26.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 0.25% of Discover Financial Services worth $56,710,000 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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