Discover Financial Services (DFS) Rating Lowered to Hold at ValuEngine
Discover Financial Services (NYSE:DFS) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.
Several other equities analysts have also weighed in on DFS. Oppenheimer Holdings, Inc. set a $69.00 target price on shares of Discover Financial Services and gave the company a “buy” rating in a report on Wednesday, July 26th. Zacks Investment Research lowered shares of Discover Financial Services from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Barclays PLC set a $73.00 price target on shares of Discover Financial Services and gave the stock a “hold” rating in a report on Wednesday, October 25th. Buckingham Research began coverage on shares of Discover Financial Services in a research note on Monday, October 2nd. They set a “buy” rating and a $74.00 target price on the stock. Finally, Compass Point cut shares of Discover Financial Services from a “buy” rating to a “neutral” rating in a research note on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the company. Discover Financial Services has a consensus rating of “Hold” and a consensus price target of $74.45.
Discover Financial Services (NYSE DFS) opened at $64.82 on Wednesday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market cap of $23,717.85, a P/E ratio of 11.22, a PEG ratio of 1.73 and a beta of 1.52. Discover Financial Services has a 1-year low of $57.50 and a 1-year high of $74.33.
Discover Financial Services declared that its board has authorized a stock repurchase plan on Tuesday, July 25th that permits the company to repurchase $2.75 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 11.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
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In related news, EVP Kathryn Mcnamara Corley sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $59.63, for a total transaction of $238,520.00. Following the transaction, the executive vice president now directly owns 150,744 shares of the company’s stock, valued at approximately $8,988,864.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Carlos Minetti sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $64.51, for a total value of $516,080.00. The disclosure for this sale can be found here. Insiders sold a total of 172,277 shares of company stock worth $11,020,650 over the last ninety days. Corporate insiders own 0.96% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Grove Bank & Trust increased its holdings in Discover Financial Services by 2,483.3% during the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 1,490 shares during the last quarter. Rational Advisors LLC purchased a new stake in Discover Financial Services during the 3rd quarter worth approximately $123,000. Americafirst Capital Management LLC purchased a new stake in Discover Financial Services during the 3rd quarter worth approximately $140,000. Capstone Investment Advisors Netherlands B.V. purchased a new stake in Discover Financial Services during the 2nd quarter worth approximately $157,000. Finally, Financial Architects Inc increased its holdings in Discover Financial Services by 65.1% during the 2nd quarter. Financial Architects Inc now owns 2,600 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 1,025 shares during the last quarter. Institutional investors own 88.02% of the company’s stock.
About Discover Financial Services
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 and Payment Services. It provides direct banking products and services, and payment services through its subsidiaries.
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