Investors Sell Discover Financial Services (DFS) on Strength (DFS)
Traders sold shares of Discover Financial Services (NYSE:DFS) on strength during trading hours on Wednesday. $28.67 million flowed into the stock on the tick-up and $57.74 million flowed out of the stock on the tick-down, for a money net flow of $29.07 million out of the stock. Of all stocks tracked, Discover Financial Services had the 0th highest net out-flow for the day. Discover Financial Services traded up $1.06 for the day and closed at $65.27
Several equities research analysts recently issued reports on DFS shares. Wells Fargo & Company started coverage on Discover Financial Services in a report on Tuesday, October 10th. They set a “market perform” rating and a $69.00 price target for the company. Zacks Investment Research upgraded Discover Financial Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. ValuEngine downgraded Discover Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday. Buckingham Research started coverage on Discover Financial Services in a research note on Monday, October 2nd. They issued a “buy” rating and a $74.00 price objective for the company. Finally, Bank of America Corporation downgraded Discover Financial Services from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $67.00 to $63.00 in a research note on Thursday, July 27th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $74.45.
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 cap of $23,717.85, a PE ratio of 11.22, a P/E/G ratio of 1.73 and a beta of 1.52.
The business also recently declared 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 yield of 2.16%. Discover Financial Services’s payout ratio is 24.05%.
Discover Financial Services declared that its board has initiated a stock repurchase program on Tuesday, July 25th that authorizes the company to buyback $2.75 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 11.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In related news, CEO David W. Nelms sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $59.10, for a total transaction of $1,773,000.00. Following the transaction, the chief executive officer now directly owns 1,529,912 shares in the company, valued at approximately $90,417,799.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Carlos Minetti sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $66.68, for a total value of $533,440.00. Following the transaction, the executive vice president now owns 173,149 shares in the company, valued at $11,545,575.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,277 shares of company stock worth $11,020,650. 0.96% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Grove Bank & Trust lifted its holdings in Discover Financial Services by 2,483.3% in the 3rd quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock worth $100,000 after buying an additional 1,490 shares during the period. Rational Advisors LLC purchased a new stake in Discover Financial Services in the 3rd quarter worth approximately $123,000. Americafirst Capital Management LLC purchased a new stake in Discover Financial Services in the 3rd quarter worth approximately $140,000. Chicago Partners Investment Group LLC purchased a new stake in Discover Financial Services in the 2nd quarter worth approximately $168,000. Finally, Capstone Investment Advisors Netherlands B.V. purchased a new stake in Discover Financial Services in the 2nd quarter worth approximately $157,000. Institutional investors and hedge funds own 88.02% of the company’s stock.
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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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