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

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

Discover Financial Services (NYSE:DFS) announced a quarterly dividend on Thursday, January 19th. Stockholders of record on Thursday, February 9th will be paid a dividend of 0.30 per share by the financial services provider on Thursday, February 23rd. This represents a $1.20 annualized dividend and a dividend yield of 1.71%.

Shares of Discover Financial Services (NYSE:DFS) traded down 0.51% during mid-day trading on Thursday, hitting $70.00. The stock had a trading volume of 1,609,068 shares. Discover Financial Services has a 12-month low of $42.86 and a 12-month high of $74.33. The stock’s 50-day moving average price is $71.41 and its 200-day moving average price is $61.37. The stock has a market capitalization of $27.61 billion, a price-to-earnings ratio of 12.74 and a beta of 1.47.

Several analysts have commented on the stock. Deutsche Bank AG set a $65.00 target price on shares of Discover Financial Services and gave the company a “buy” rating in a research report on Wednesday, October 5th. Wedbush assumed coverage on shares of Discover Financial Services in a research report on Monday, October 10th. They set a “neutral” rating and a $63.00 target price for the company. Jefferies Group reiterated a “buy” rating and set a $70.00 target price on shares of Discover Financial Services in a research report on Thursday, October 13th. Zacks Investment Research upgraded shares of Discover Financial Services from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a research report on Tuesday, November 8th. Finally, Stephens initiated coverage on shares of Discover Financial Services in a research report on Friday, November 18th. They set an “underweight” rating and a $62.00 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.78.

In other news, EVP Kathryn Mcnamara Corley sold 15,000 shares of Discover Financial Services stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $56.30, for a total transaction of $844,500.00. Following the transaction, the executive vice president now owns 156,476 shares in the company, valued at $8,809,598.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO R. Mark Graf sold 25,032 shares of Discover Financial Services stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $56.78, for a total transaction of $1,421,316.96. Following the transaction, the chief financial officer now owns 116,052 shares in the company, valued at approximately $6,589,432.56. The disclosure for this sale can be found here. Insiders sold 52,261 shares of company stock worth $3,073,601 in the last 90 days. Company insiders own 1.07% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Mycio Wealth Partners LLC raised its position in shares of Discover Financial Services by 43.7% in the second quarter. Mycio Wealth Partners LLC now owns 2,054 shares of the financial services provider’s stock worth $110,000 after buying an additional 625 shares during the period. Seven Eight Capital LLC purchased a new position in shares of Discover Financial Services during the second quarter worth $124,000. Euclid Advisors LLC purchased a new position in shares of Discover Financial Services during the second quarter worth $150,000. Woodmont Investment Counsel LLC increased its position in shares of Discover Financial Services by 1.9% in the second quarter. Woodmont Investment Counsel LLC now owns 3,946 shares of the financial services provider’s stock worth $211,000 after buying an additional 75 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in shares of Discover Financial Services during the second quarter worth $213,000. Institutional investors own 83.24% of the company’s stock.

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, which includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including personal loans, home equity loans, and other consumer lending and deposit products, and Payment Services segment, which includes PULSE and its Network Partners business.

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