Discover Financial Services (NYSE:DFS) – Stock analysts at Wedbush dropped their FY2017 EPS estimates for Discover Financial Services in a note issued to investors on Monday. Wedbush analyst H. Coffey now forecasts that the financial services provider will earn $5.88 per share for the year, down from their prior estimate of $5.90. Wedbush also issued estimates for Discover Financial Services’ Q4 2017 earnings at $1.46 EPS, Q2 2018 earnings at $1.62 EPS and Q3 2018 earnings at $1.76 EPS.

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Several other research analysts also recently weighed in on the stock. Zacks Investment Research upgraded shares of Discover Financial Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Morgan Stanley decreased their price target on shares of Discover Financial Services from $71.00 to $70.00 and set an “overweight” rating on the stock in a research report on Friday, September 8th. BMO Capital Markets decreased their price target on shares of Discover Financial Services from $69.00 to $67.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 25th. William Blair reiterated an “outperform” rating on shares of Discover Financial Services in a research report on Tuesday, July 18th. Finally, Wells Fargo & Company initiated coverage on shares of Discover Financial Services in a research report on Tuesday, October 10th. They issued a “market perform” rating and a $69.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $74.45.

Discover Financial Services announced that its Board of Directors has approved a stock repurchase plan on Tuesday, July 25th that allows the company to buyback $2.75 billion in shares. This buyback authorization allows the financial services provider to purchase up to 11.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Tuesday, November 21st. Discover Financial Services’s dividend payout ratio (DPR) is 24.05%.

In other news, CFO R. Mark Graf sold 16,503 shares of Discover Financial Services stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $66.67, for a total value of $1,100,255.01. Following the transaction, the chief financial officer now owns 82,402 shares of the company’s stock, valued at approximately $5,493,741.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Roger C. Hochschild sold 15,258 shares of Discover Financial Services stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $64.87, for a total transaction of $989,786.46. The disclosure for this sale can be found here. Insiders have sold a total of 119,019 shares of company stock worth $7,464,129 in the last three months. Insiders own 0.96% of the company’s stock.

Institutional investors have recently modified their holdings of the company. V Wealth Management LLC purchased a new position in shares of Discover Financial Services in the 2nd quarter worth approximately $101,000. FNY Managed Accounts LLC purchased a new stake in Discover Financial Services during the 1st quarter worth approximately $124,000. Orrstown Financial Services Inc. grew its position in Discover Financial Services by 16.7% during the 2nd quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock worth $125,000 after purchasing an additional 286 shares during the last quarter. Perigon Wealth Management LLC grew its position in Discover Financial Services by 2.3% during the 1st quarter. Perigon Wealth Management LLC now owns 2,146 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 48 shares during the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new stake in Discover Financial Services during the 2nd quarter worth approximately $168,000. 86.40% of the stock is currently 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.

Earnings History and Estimates for Discover Financial Services (NYSE:DFS)

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