Insider Selling: Discover Financial Services (NYSE:DFS) Director Sells 993 Shares of Stock

Discover Financial Services (NYSE:DFS) Director Mary K. Bush sold 993 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $83.27, for a total value of $82,687.11. Following the completion of the sale, the director now directly owns 52,075 shares of the company’s stock, valued at approximately $4,336,285.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of DFS stock traded down $0.54 during midday trading on Wednesday, reaching $83.77. 1,985,722 shares of the stock were exchanged, compared to its average volume of 2,049,938. Discover Financial Services has a 1 year low of $54.36 and a 1 year high of $92.98. The company has a 50 day simple moving average of $82.43. The company has a debt-to-equity ratio of 2.30, a quick ratio of 1.33 and a current ratio of 1.33. The firm has a market cap of $26.80 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 1.27 and a beta of 1.55.

Discover Financial Services (NYSE:DFS) last posted its earnings results on Tuesday, July 23rd. The financial services provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.21. Discover Financial Services had a return on equity of 26.76% and a net margin of 21.00%. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter in the prior year, the business earned $1.91 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, research analysts forecast that Discover Financial Services will post 9 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.44 per share. This is an increase from Discover Financial Services’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, August 21st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.10%. Discover Financial Services’s dividend payout ratio is 20.54%.

Several hedge funds have recently bought and sold shares of DFS. Icon Wealth Partners LLC purchased a new position in shares of Discover Financial Services during the 1st quarter worth approximately $26,000. Weaver Consulting Group purchased a new position in shares of Discover Financial Services during the 1st quarter worth approximately $28,000. IMA Wealth Inc. grew its holdings in shares of Discover Financial Services by 1,448.3% during the 1st quarter. IMA Wealth Inc. now owns 449 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 420 shares during the period. Semmax Financial Advisors Inc. grew its holdings in shares of Discover Financial Services by 75.6% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 418 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 180 shares during the period. Finally, Next Capital Management LLC purchased a new position in shares of Discover Financial Services during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 84.93% of the company’s stock.

A number of equities research analysts have recently weighed in on DFS shares. BMO Capital Markets boosted their target price on Discover Financial Services to $92.00 and gave the company a “market perform” rating in a research note on Monday, April 29th. Oppenheimer lowered Discover Financial Services from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 7th. Bank of America started coverage on Discover Financial Services in a research note on Wednesday, June 19th. They issued a “neutral” rating for the company. Barclays boosted their target price on Discover Financial Services from $87.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. Finally, Goldman Sachs Group raised Discover Financial Services from a “neutral” rating to a “buy” rating and boosted their target price for the company from $51.00 to $56.00 in a research note on Friday, May 3rd. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Discover Financial Services has a consensus rating of “Hold” and a consensus target price of $84.12.

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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Insider Buying and Selling by Quarter for Discover Financial Services (NYSE:DFS)

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