Shares of Discover Financial Services (NYSE:DFS) have been assigned a consensus rating of “Buy” from the twenty-six brokerages that are covering the firm. One equities research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, sixteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $73.29.
A number of analysts have recently issued reports on DFS shares. Zacks Investment Research cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Monday, January 16th. Deutsche Bank AG reiterated a “buy” rating on shares of Discover Financial Services in a report on Sunday, January 8th. Oppenheimer Holdings Inc. set a $85.00 price target on Discover Financial Services and gave the stock a “buy” rating in a report on Tuesday, January 24th. JMP Securities upped their price target on Discover Financial Services from $71.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, January 25th. Finally, Rafferty Capital Markets reaffirmed a “hold” rating and issued a $70.00 target price on shares of Discover Financial Services in a research report on Wednesday, March 29th.
Discover Financial Services (NYSE:DFS) traded down 0.69% during midday trading on Friday, hitting $66.23. 2,851,914 shares of the stock traded hands. The company’s 50-day moving average is $68.30 and its 200 day moving average is $66.77. Discover Financial Services has a 12-month low of $50.32 and a 12-month high of $74.33. The firm has a market cap of $25.53 billion, a P/E ratio of 11.48 and a beta of 1.42.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Stockholders of record on Thursday, May 11th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, May 9th. Discover Financial Services’s dividend payout ratio is 20.76%.
In related news, EVP James V. Panzarino sold 10,000 shares of the stock in a transaction dated Friday, January 27th. The stock was sold at an average price of $69.21, for a total value of $692,100.00. Following the completion of the sale, the executive vice president now directly owns 84,505 shares of the company’s stock, valued at approximately $5,848,591.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Julie A. Loeger sold 3,871 shares of the stock in a transaction dated Monday, January 30th. The stock was sold at an average price of $68.94, for a total value of $266,866.74. Following the completion of the sale, the executive vice president now directly owns 24,414 shares of the company’s stock, valued at $1,683,101.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,559 shares of company stock valued at $4,576,966. 1.07% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the company. Acrospire Investment Management LLC increased its stake in Discover Financial Services by 18.8% in the third quarter. Acrospire Investment Management LLC now owns 1,900 shares of the financial services provider’s stock worth $107,000 after buying an additional 300 shares during the period. Cable Hill Partners LLC increased its stake in Discover Financial Services by 112.1% in the third quarter. Cable Hill Partners LLC now owns 1,926 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,018 shares during the period. Orrstown Financial Services Inc. increased its stake in Discover Financial Services by 64.2% in the first quarter. Orrstown Financial Services Inc. now owns 1,716 shares of the financial services provider’s stock worth $117,000 after buying an additional 671 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Discover Financial Services by 52.9% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 2,600 shares of the financial services provider’s stock worth $147,000 after buying an additional 900 shares during the period. Finally, Focused Wealth Management Inc purchased a new stake in Discover Financial Services during the fourth quarter worth $151,000. 85.54% of the stock is owned by hedge funds and other institutional investors.
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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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