Discover Financial Services (NYSE:DFS) Director Cynthia A. Glassman sold 2,000 shares of the stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $69.50, for a total transaction of $139,000.00. Following the completion of the sale, the director now owns 54,032 shares in the company, valued at $3,755,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of DFS stock traded down $0.75 during trading hours on Friday, hitting $70.46. 62,695 shares of the company were exchanged, compared to its average volume of 2,287,697. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.58. Discover Financial Services has a 52 week low of $63.31 and a 52 week high of $81.93. The company has a market capitalization of $23.37 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 0.71 and a beta of 1.50.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $2.05 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $2.05. The company had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $2.69 billion. Discover Financial Services had a net margin of 19.51% and a return on equity of 25.49%. On average, equities analysts expect that Discover Financial Services will post 7.83 EPS for the current year.
Discover Financial Services declared that its board has authorized a share repurchase plan on Thursday, July 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 11.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
A number of institutional investors have recently added to or reduced their stakes in DFS. DnB Asset Management AS grew its position in Discover Financial Services by 4.1% in the second quarter. DnB Asset Management AS now owns 45,715 shares of the financial services provider’s stock valued at $3,219,000 after purchasing an additional 1,800 shares in the last quarter. IFM Investors Pty Ltd grew its position in Discover Financial Services by 43.9% in the second quarter. IFM Investors Pty Ltd now owns 16,531 shares of the financial services provider’s stock valued at $1,164,000 after purchasing an additional 5,045 shares in the last quarter. State of Alaska Department of Revenue grew its position in Discover Financial Services by 8.1% in the second quarter. State of Alaska Department of Revenue now owns 48,331 shares of the financial services provider’s stock valued at $3,402,000 after purchasing an additional 3,625 shares in the last quarter. Denali Advisors LLC grew its position in Discover Financial Services by 3.5% in the second quarter. Denali Advisors LLC now owns 202,656 shares of the financial services provider’s stock valued at $14,269,000 after purchasing an additional 6,800 shares in the last quarter. Finally, Raymond James Trust N.A. grew its position in Discover Financial Services by 8.7% in the second quarter. Raymond James Trust N.A. now owns 14,753 shares of the financial services provider’s stock valued at $1,039,000 after purchasing an additional 1,176 shares in the last quarter. 85.66% of the stock is owned by institutional investors and hedge funds.
Several research firms have weighed in on DFS. Sandler O’Neill reiterated a “buy” rating and issued a $87.00 target price on shares of Discover Financial Services in a report on Friday, July 27th. Bank of America increased their target price on shares of Discover Financial Services from $86.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 21st. JPMorgan Chase & Co. upgraded shares of Discover Financial Services from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 2nd. Zacks Investment Research downgraded shares of Discover Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. Finally, Wells Fargo & Co lowered their price objective on shares of Discover Financial Services from $82.00 to $78.00 and set a “market perform” rating for the company in a research report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $86.80.
About Discover Financial Services
Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.
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