Royal Bank Of Canada Reiterates Buy Rating for Discover Financial Services (NYSE:DFS)

Royal Bank Of Canada reaffirmed their buy rating on shares of Discover Financial Services (NYSE:DFS) in a research note issued to investors on Wednesday, October 25th. Royal Bank Of Canada currently has a $86.00 price target on the financial services provider’s stock.

DFS has been the subject of several other reports. Zacks Investment Research cut shares of Discover Financial Services from a hold rating to a sell rating in a research note on Monday, October 23rd. Oppenheimer Holdings, Inc. set a $69.00 price target on shares of Discover Financial Services and gave the stock a buy rating in a report on Wednesday, July 26th. Barclays PLC reaffirmed an equal weight rating and set a $70.00 target price (down previously from $79.00) on shares of Discover Financial Services in a report on Thursday, July 13th. Buckingham Research assumed coverage on shares of Discover Financial Services in a report on Monday, October 2nd. They set a buy rating and a $74.00 target price for the company. Finally, ValuEngine cut shares of Discover Financial Services from a buy rating to a hold rating in a research report on Monday, September 11th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $74.45.

Shares of Discover Financial Services (NYSE DFS) opened at $65.00 on Wednesday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.55 and a current ratio of 1.55. Discover Financial Services has a 12 month low of $57.50 and a 12 month high of $74.33. The company has a market cap of $23,532.53, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 1.71 and a beta of 1.52.

COPYRIGHT VIOLATION WARNING: “Royal Bank Of Canada Reiterates Buy Rating for Discover Financial Services (NYSE:DFS)” was originally published by BBNS and is owned by of BBNS. If you are viewing this story on another site, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this story can be accessed at https://baseballnewssource.com/markets/discover-financial-services-dfs-buy-rating-reaffirmed-at-royal-bank-of-canada/1735772.html.

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

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Wednesday, November 22nd will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.15%. Discover Financial Services’s dividend payout ratio (DPR) is 24.05%.

In related news, CEO David W. Nelms sold 30,000 shares of the company’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $59.10, for a total transaction of $1,773,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,529,912 shares in the company, valued at approximately $90,417,799.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Carlos Minetti sold 8,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $64.51, for a total value of $516,080.00. The disclosure for this sale can be found here. Insiders sold a total of 172,277 shares of company stock valued at $11,020,650 over the last quarter. Company insiders own 0.96% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Grove Bank & Trust lifted its holdings in shares of Discover Financial Services by 2,483.3% in the third quarter. Grove Bank & Trust now owns 1,550 shares of the financial services provider’s stock valued at $100,000 after buying an additional 1,490 shares during the period. V Wealth Management LLC acquired a new stake in shares of Discover Financial Services in the second quarter valued at $101,000. Rational Advisors LLC acquired a new stake in shares of Discover Financial Services in the third quarter valued at $123,000. FNY Managed Accounts LLC acquired a new stake in shares of Discover Financial Services in the first quarter valued at $124,000. Finally, Orrstown Financial Services Inc. lifted its holdings in shares of Discover Financial Services by 16.7% in the second quarter. Orrstown Financial Services Inc. now owns 2,002 shares of the financial services provider’s stock valued at $125,000 after buying an additional 286 shares during the period. Institutional investors and hedge funds own 88.02% of the company’s stock.

About Discover Financial Services

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.

Analyst Recommendations for Discover Financial Services (NYSE:DFS)

Receive News & Ratings for Discover Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Discover Financial Services and related companies with our FREE daily email newsletter.

 


Latest News

Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
Seattle Mariners Start Offseason With a Bang: Three Trades Over Four Days
MLB Commissioner: New Rule for Pace-of-Play in 2018
MLB Commissioner: New Rule for Pace-of-Play in 2018
Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts


Leave a Reply

 
© 2006-2017 BBNS.