Discover Financial Services (DFS) Rating Lowered to Hold at ValuEngine

Discover Financial Services (NYSE:DFS) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Monday.

A number of other analysts also recently issued reports on DFS. Oppenheimer Holdings, Inc. set a $69.00 price objective on Discover Financial Services and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Bank of America Corporation cut Discover Financial Services from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $67.00 to $63.00 in a report on Thursday, July 27th. Morgan Stanley restated an “overweight” rating and set a $75.00 price objective (down previously from $81.00) on shares of Discover Financial Services in a report on Thursday, July 6th. Barclays PLC restated an “equal weight” rating and set a $70.00 price objective (down previously from $79.00) on shares of Discover Financial Services in a report on Thursday, July 13th. Finally, BidaskClub upgraded Discover Financial Services from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the stock. Discover Financial Services currently has a consensus rating of “Buy” and a consensus target price of $73.95.

Shares of Discover Financial Services (NYSE:DFS) traded up 0.92% during midday trading on Monday, reaching $58.19. The company had a trading volume of 2,667,393 shares. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 10.04 and a beta of 1.45. The company has a 50 day moving average of $60.21 and a 200 day moving average of $62.97. Discover Financial Services has a 12-month low of $53.91 and a 12-month high of $74.33.

Discover Financial Services (NYSE:DFS) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.45 by $0.05. Discover Financial Services had a return on equity of 21.28% and a net margin of 20.91%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the business earned $1.47 EPS. The firm’s quarterly revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that Discover Financial Services will post $5.92 EPS for the current year.

Discover Financial Services declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $2.23 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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In other news, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $62.52, for a total transaction of $1,875,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carlos Minetti sold 8,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $62.42, for a total value of $499,360.00. Following the sale, the executive vice president now owns 205,149 shares of the company’s stock, valued at $12,805,400.58. The disclosure for this sale can be found here. Insiders have sold a total of 157,002 shares of company stock valued at $9,580,337 over the last 90 days. Insiders own 0.96% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in Discover Financial Services by 0.7% during the 1st quarter. Advisors Asset Management Inc. now owns 19,133 shares of the financial services provider’s stock worth $1,309,000 after purchasing an additional 135 shares during the period. Sheaff Brock Investment Advisors LLC lifted its position in shares of Discover Financial Services by 75.1% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 29,452 shares of the financial services provider’s stock worth $2,014,000 after purchasing an additional 12,634 shares during the last quarter. Girard Partners LTD. lifted its position in shares of Discover Financial Services by 79.5% during the first quarter. Girard Partners LTD. now owns 5,203 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 2,305 shares during the last quarter. Henderson Group PLC lifted its position in shares of Discover Financial Services by 1.2% during the first quarter. Henderson Group PLC now owns 48,684 shares of the financial services provider’s stock worth $3,330,000 after purchasing an additional 600 shares during the last quarter. Finally, HPM Partners LLC bought a new position in shares of Discover Financial Services during the first quarter worth about $5,198,000. Institutional investors and hedge funds own 86.21% of the company’s stock.

Discover Financial Services Company Profile

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.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

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