Insider Selling: Discover Financial Services (NYSE:DFS) Director Sells 5,551 Shares of Stock

Discover Financial Services (NYSE:DFS) Director Cynthia A. Glassman sold 5,551 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $81.73, for a total value of $453,683.23. Following the completion of the sale, the director now directly owns 44,481 shares of the company’s stock, valued at $3,635,432.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of NYSE DFS opened at $77.29 on Friday. Discover Financial Services has a 12-month low of $54.36 and a 12-month high of $82.51. The firm has a market capitalization of $25.00 billion, a P/E ratio of 9.92, a P/E/G ratio of 1.18 and a beta of 1.64. The company has a debt-to-equity ratio of 2.46, a current ratio of 1.38 and a quick ratio of 1.38.

Discover Financial Services (NYSE:DFS) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.13. The firm had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.76 billion. Discover Financial Services had a return on equity of 26.34% and a net margin of 20.98%. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.82 EPS. On average, analysts forecast that Discover Financial Services will post 8.76 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, May 23rd. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. Discover Financial Services’s dividend payout ratio is presently 20.54%.

Institutional investors have recently made changes to their positions in the company. Icon Wealth Partners LLC bought a new position in shares of Discover Financial Services during the first quarter worth about $26,000. Financial Gravity Companies Inc. bought a new position in shares of Discover Financial Services during the fourth quarter worth about $29,000. Cerebellum GP LLC bought a new position in shares of Discover Financial Services during the fourth quarter worth about $30,000. Massey Quick Simon & CO. LLC bought a new position in shares of Discover Financial Services during the fourth quarter worth about $30,000. Finally, Pinnacle Bank bought a new position in shares of Discover Financial Services during the fourth quarter worth about $32,000. Institutional investors own 87.79% of the company’s stock.

A number of equities research analysts recently weighed in on DFS shares. Oppenheimer set a $79.00 price target on Discover Financial Services and gave the stock a “buy” rating in a report on Wednesday, April 17th. Nomura upped their price objective on Discover Financial Services from $81.00 to $86.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Bank of America set a $80.00 price objective on Discover Financial Services and gave the stock a “buy” rating in a report on Friday, January 25th. Zacks Investment Research upgraded Discover Financial Services from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Wednesday, March 27th. Finally, Goldman Sachs Group upgraded Discover Financial Services from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $51.00 to $56.00 in a report on Friday, May 3rd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Discover Financial Services currently has a consensus rating of “Buy” and an average target price of $81.69.

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About Discover Financial Services

Discover Financial Services, through its subsidiaries, operates as a direct banking and payment services company in the United States. The Direct Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home equity loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, savings accounts, checking accounts, and individual retirement arrangement certificates of deposit.

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