ValuEngine downgraded shares of Discover Financial Services (NYSE:DFS) from a buy rating to a hold rating in a report issued on Wednesday morning.
A number of other equities research analysts also recently commented on the stock. Royal Bank Of Canada restated a buy rating and issued a $86.00 price objective on shares of Discover Financial Services in a research report on Wednesday, October 25th. Barclays PLC set a $73.00 price objective on shares of Discover Financial Services and gave the company a hold rating in a research report on Wednesday, October 25th. BMO Capital Markets reduced their price objective on shares of Discover Financial Services from $69.00 to $67.00 and set a market perform rating for the company in a research report on Wednesday, October 25th. Bank of America Corporation raised their price objective on shares of Discover Financial Services from $67.00 to $69.00 and gave the company a neutral rating in a research report on Wednesday, October 25th. Finally, Nomura reduced their price objective on shares of Discover Financial Services from $81.00 to $79.00 and set a buy rating for the company in a research report on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $74.45.
Shares of Discover Financial Services (NYSE DFS) traded up $1.06 during trading hours on Wednesday, reaching $65.27. 3,254,100 shares of the company were exchanged, compared to its average volume of 2,667,934. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.55. The firm has a market capitalization of $23,600.00, a P/E ratio of 11.03, a P/E/G ratio of 1.70 and a beta of 1.51. Discover Financial Services has a 1 year low of $57.50 and a 1 year high of $74.33.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.40 annualized dividend and a dividend yield of 2.14%. Discover Financial Services’s dividend payout ratio is currently 24.10%.
Discover Financial Services announced that its board has approved a stock buyback program on Tuesday, July 25th that permits the company to repurchase $2.75 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 11.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of Discover Financial Services stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $66.80, for a total value of $2,004,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kathryn Mcnamara Corley sold 4,000 shares of Discover Financial Services stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $59.63, for a total transaction of $238,520.00. Following the completion of the sale, the executive vice president now directly owns 150,744 shares of the company’s stock, valued at $8,988,864.72. The disclosure for this sale can be found here. Insiders sold a total of 172,277 shares of company stock valued at $11,020,650 over the last ninety days. 0.96% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Grove Bank & Trust grew its stake in shares of Discover Financial Services by 2,483.3% during the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,490 shares during the period. Rational Advisors LLC purchased a new stake in shares of Discover Financial Services during the 3rd quarter valued at $123,000. Americafirst Capital Management LLC purchased a new stake in shares of Discover Financial Services during the 3rd quarter valued at $140,000. Capstone Investment Advisors Netherlands B.V. purchased a new stake in shares of Discover Financial Services during the 2nd quarter valued at $157,000. Finally, Financial Architects Inc grew its stake in shares of Discover Financial Services by 65.1% during the 2nd quarter. Financial Architects Inc now owns 2,600 shares of the financial services provider’s stock valued at $162,000 after buying an additional 1,025 shares during the period. 88.02% of the stock is owned by hedge funds and other institutional investors.
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.
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