Trade Report: The Discover Financial Services (DFS) Announces Quarterly Dividend of $0.30

The Discover Financial Services (DFS) Announces Quarterly Dividend of $0.30

Discover Financial Services (NYSE:DFS) declared a quarterly dividend on Thursday, October 13th. Stockholders of record on Thursday, November 3rd will be given a dividend of 0.30 per share by the financial services provider on Thursday, November 17th. This represents a $1.20 annualized dividend and a dividend yield of 2.20%.

Discover Financial Services (NYSE:DFS) traded down 1.80% on Thursday, hitting $54.51. The stock had a trading volume of 3,394,870 shares. Discover Financial Services has a 52-week low of $42.86 and a 52-week high of $60.29. The company has a 50 day moving average price of $57.75 and a 200-day moving average price of $55.71. The company has a market cap of $22.00 billion, a price-to-earnings ratio of 10.24 and a beta of 1.20.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.05. Discover Financial Services had a return on equity of 21.15% and a net margin of 22.41%. On average, equities research analysts predict that Discover Financial Services will post $5.72 earnings per share for the current year.

In other Discover Financial Services news, CEO David W. Nelms sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $56.68, for a total transaction of $850,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Diane E. Offereins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $56.45, for a total value of $564,500.00. Following the sale, the executive vice president now owns 308,962 shares of the company’s stock, valued at $17,440,904.90. The disclosure for this sale can be found here. Company insiders own 1.07% of the company’s stock.

Large investors have recently bought and sold shares of the company. Primecap Management Co. CA raised its stake in Discover Financial Services by 35.3% in the second quarter. Primecap Management Co. CA now owns 3,866,300 shares of the financial services provider’s stock valued at $207,195,000 after buying an additional 1,009,700 shares during the period. State of Tennessee Treasury Department raised its stake in Discover Financial Services by 72.2% in the second quarter. State of Tennessee Treasury Department now owns 821,023 shares of the financial services provider’s stock valued at $43,999,000 after buying an additional 344,155 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Discover Financial Services by 5.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,449,239 shares of the financial services provider’s stock valued at $292,024,000 after buying an additional 292,366 shares during the period. Panagora Asset Management Inc. raised its stake in Discover Financial Services by 101.3% in the second quarter. Panagora Asset Management Inc. now owns 566,514 shares of the financial services provider’s stock valued at $30,359,000 after buying an additional 285,105 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in Discover Financial Services by 25.4% in the second quarter. Nuveen Asset Management LLC now owns 873,558 shares of the financial services provider’s stock valued at $46,814,000 after buying an additional 177,103 shares during the period. Institutional investors own 85.42% of the company’s stock.

DFS has been the topic of a number of analyst reports. Evercore ISI reiterated a “buy” rating and issued a $59.00 price target on shares of Discover Financial Services in a report on Wednesday, June 15th. Deutsche Bank AG restated a “buy” rating on shares of Discover Financial Services in a research note on Wednesday, June 15th. JMP Securities restated a “buy” rating and set a $63.00 target price on shares of Discover Financial Services in a research note on Thursday, June 23rd. Morgan Stanley restated a “buy” rating and set a $70.00 target price on shares of Discover Financial Services in a research note on Thursday, June 23rd. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Discover Financial Services in a research note on Thursday, June 30th. Seven analysts have rated the stock with a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. Discover Financial Services presently has a consensus rating of “Buy” and a consensus target price of $63.69.

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