Discover Financial Services (NYSE:DFS) – Equities research analysts at Oppenheimer Holdings increased their FY2016 earnings per share estimates for shares of Discover Financial Services in a research note issued on Tuesday. Oppenheimer Holdings analyst B. Chittenden now forecasts that the firm will post earnings of $5.66 per share for the year, up from their previous forecast of $5.65. Oppenheimer Holdings has a “Outperform” rating and a $75.00 price objective on the stock.

Discover Financial Services (NYSE:DFS) last released its quarterly earnings data on Tuesday, July 19th. The financial services provider reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.05. Discover Financial Services had a net margin of 22.41% and a return on equity of 21.15%.

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

Other analysts have also recently issued reports about the stock. Deutsche Bank AG restated a “buy” rating on shares of Discover Financial Services in a research note on Sunday, June 26th. Morgan Stanley reiterated a “buy” rating and issued a $70.00 target price on shares of Discover Financial Services in a research note on Thursday, June 23rd. JMP Securities reiterated a “buy” rating and issued a $63.00 target price on shares of Discover Financial Services in a research note on Thursday, June 23rd. Jefferies Group reiterated a “buy” rating and issued a $66.00 target price on shares of Discover Financial Services in a research note on Wednesday, July 20th. Finally, Nomura reiterated a “buy” rating on shares of Discover Financial Services in a research note on Saturday, July 9th. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $63.69.

Discover Financial Services (NYSE:DFS) opened at 54.51 on Thursday. Discover Financial Services has a 52-week low of $42.86 and a 52-week high of $60.29. The firm’s 50-day moving average is $57.65 and its 200 day moving average is $55.70. The company has a market cap of $22.00 billion, a price-to-earnings ratio of 10.24 and a beta of 1.20.

Hedge funds have recently modified their holdings of the company. Financial Architects Inc boosted its stake in shares of Discover Financial Services by 724.6% in the second quarter. Financial Architects Inc now owns 1,880 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,652 shares in the last quarter. Evercore Wealth Management LLC raised its stake in Discover Financial Services by 24.9% in the second quarter. Evercore Wealth Management LLC now owns 1,989 shares of the financial services provider’s stock worth $107,000 after buying an additional 396 shares during the last quarter. Mycio Wealth Partners LLC raised its stake in 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 last quarter. Advisory Services Network LLC raised its stake in Discover Financial Services by 21.0% in the second quarter. Advisory Services Network LLC now owns 2,257 shares of the financial services provider’s stock worth $121,000 after buying an additional 391 shares during the last quarter. Finally, Seven Eight Capital LLC purchased a new stake in Discover Financial Services during the second quarter worth $124,000. 85.42% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO David W. Nelms sold 15,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $56.46, for a total transaction of $846,900.00. Following the sale, the chief executive officer now owns 1,727,268 shares of the company’s stock, valued at $97,521,551.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Diane E. Offereins sold 10,000 shares of the stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $56.45, for a total transaction of $564,500.00. Following the sale, the executive vice president now directly owns 308,962 shares in the company, valued at approximately $17,440,904.90. The disclosure for this sale can be found here. Insiders own 1.07% of the company’s stock.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 17th. Stockholders of record on Thursday, November 3rd will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.20%. Discover Financial Services’s dividend payout ratio is presently 22.47%.

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.

5 Day Chart for NYSE:DFS

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