Shares of Discover Financial Services (NYSE:DFS) have earned an average recommendation of “Hold” from the twenty-eight ratings firms that are presently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $73.95.
Several brokerages recently issued reports on DFS. BidaskClub cut Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut Discover Financial Services from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Jefferies Group LLC reaffirmed a “buy” rating and set a $75.00 target price (down previously from $82.00) on shares of Discover Financial Services in a research report on Thursday, July 27th. ValuEngine cut Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Finally, Morgan Stanley cut their target price on Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, September 8th.
Shares of Discover Financial Services (NYSE:DFS) traded up $0.24 during trading hours on Monday, hitting $65.06. The company had a trading volume of 1,487,895 shares, compared to its average volume of 2,660,859. The stock has a market capitalization of $23,550.00, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.70 and a beta of 1.51. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.55. Discover Financial Services has a one year low of $57.50 and a one year high of $74.33.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Tuesday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is presently 24.10%.
Discover Financial Services declared that its Board of Directors has authorized a stock buyback plan on Tuesday, July 25th that authorizes the company to repurchase $2.75 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 11.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction on Friday, September 1st. The stock was sold at an average price of $59.10, for a total value of $1,773,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,529,912 shares in the company, valued at $90,417,799.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of Discover Financial Services stock in a transaction on Friday, September 1st. The shares were sold at an average price of $59.63, for a total value of $238,520.00. Following the completion of the transaction, the executive vice president now owns 150,744 shares of the company’s stock, valued at $8,988,864.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 172,277 shares of company stock valued at $11,020,650. 0.96% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. grew its position in shares of Discover Financial Services by 6.5% in the second quarter. Prudential Financial Inc. now owns 921,150 shares of the financial services provider’s stock valued at $57,286,000 after purchasing an additional 56,046 shares in the last quarter. Calamos Advisors LLC grew its position in Discover Financial Services by 120.3% during the second quarter. Calamos Advisors LLC now owns 634,391 shares of the financial services provider’s stock worth $39,453,000 after buying an additional 346,406 shares in the last quarter. Annex Advisory Services LLC grew its position in Discover Financial Services by 23.9% during the second quarter. Annex Advisory Services LLC now owns 15,686 shares of the financial services provider’s stock worth $975,000 after buying an additional 3,027 shares in the last quarter. NorthCoast Asset Management LLC purchased a new position in Discover Financial Services during the second quarter worth about $1,535,000. Finally, Stifel Financial Corp grew its position in Discover Financial Services by 5.8% during the second quarter. Stifel Financial Corp now owns 1,250,428 shares of the financial services provider’s stock worth $77,758,000 after buying an additional 68,942 shares in 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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