Discover Financial Services (DFS) EVP Kathryn Mcnamara Corley Sells 4,000 Shares of Stock
Discover Financial Services (NYSE:DFS) EVP Kathryn Mcnamara Corley sold 4,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $59.63, for a total transaction of $238,520.00. Following the completion of the transaction, the executive vice president now directly owns 150,744 shares in the company, valued at $8,988,864.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Discover Financial Services (NYSE DFS) opened at 58.44 on Wednesday. The stock has a market capitalization of $21.76 billion, a price-to-earnings ratio of 10.08 and a beta of 1.45. Discover Financial Services has a 12-month low of $53.91 and a 12-month high of $74.33. The firm has a 50-day moving average of $60.53 and a 200-day moving average of $63.26.
Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $1.40 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by $0.05. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.40 billion. Discover Financial Services had a net margin of 20.91% and a return on equity of 21.28%. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.47 EPS. Equities research analysts forecast that Discover Financial Services will post $5.92 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 24th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Tuesday, August 22nd. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.30. Discover Financial Services’s dividend payout ratio is currently 24.18%.
Discover Financial Services announced that its board has approved a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $2.23 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 9.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Wealth Management LLC bought a new stake in shares of Discover Financial Services in the second quarter worth about $101,000. FNY Managed Accounts LLC bought a new stake in shares of Discover Financial Services in the first quarter worth about $124,000. Orrstown Financial Services Inc. increased its holdings in shares of Discover Financial Services by 16.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock worth $125,000 after acquiring an additional 286 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Discover Financial Services by 2.3% in the first quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after acquiring an additional 48 shares in the last quarter. Finally, Capstone Investment Advisors Netherlands B.V. bought a new stake in shares of Discover Financial Services in the second quarter worth about $157,000. Institutional investors and hedge funds own 86.21% of the company’s stock.
DFS has been the topic of several recent research reports. Wells Fargo & Company cut shares of Discover Financial Services to a “buy” rating and set a $70.00 price objective on the stock. in a research note on Friday, May 19th. Royal Bank Of Canada reissued a “buy” rating and issued a $82.00 price objective on shares of Discover Financial Services in a research note on Tuesday, May 16th. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Discover Financial Services in a research note on Friday, May 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $82.00 price target on shares of Discover Financial Services in a research note on Friday, May 12th. Finally, ValuEngine cut shares of Discover Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.21.
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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