Discover Financial Services (NYSE:DFS) announced a quarterly dividend on Friday, April 20th, RTT News reports. Stockholders of record on Thursday, May 24th will be given a dividend of 0.35 per share by the financial services provider on Thursday, June 7th. This represents a $1.40 annualized dividend and a dividend yield of 1.91%.
Discover Financial Services has raised its dividend payment by an average of 12.2% annually over the last three years and has increased its dividend every year for the last 7 years. Discover Financial Services has a dividend payout ratio of 23.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Discover Financial Services to earn $8.43 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 16.6%.
Shares of DFS traded up $0.03 during mid-day trading on Friday, hitting $73.32. The company’s stock had a trading volume of 2,451,909 shares, compared to its average volume of 2,224,153. The stock has a market capitalization of $25,574.42, a P/E ratio of 12.26, a P/E/G ratio of 0.71 and a beta of 1.46. Discover Financial Services has a 1-year low of $57.50 and a 1-year high of $81.93. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.51 and a quick ratio of 1.51.
Discover Financial Services (NYSE:DFS) last issued its quarterly earnings data on Wednesday, January 24th. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.02. The firm had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Discover Financial Services had a return on equity of 21.49% and a net margin of 17.95%. research analysts anticipate that Discover Financial Services will post 7.64 EPS for the current year.
Several equities analysts recently issued reports on the company. JMP Securities lifted their price objective on Discover Financial Services to $91.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Zacks Investment Research cut Discover Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Deutsche Bank assumed coverage on Discover Financial Services in a report on Tuesday, January 2nd. They issued a “buy” rating and a $92.00 price target for the company. BMO Capital Markets cut their price target on Discover Financial Services from $97.00 to $93.00 and set a “market perform” rating for the company in a report on Thursday, January 25th. Finally, Barclays set a $95.00 price target on Discover Financial Services and gave the stock a “buy” rating in a report on Friday, January 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Discover Financial Services presently has an average rating of “Buy” and a consensus target price of $84.65.
In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the business’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $70.08, for a total transaction of $2,102,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Edward W. Mcgrogan sold 2,435 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $81.63, for a total value of $198,769.05. Following the sale, the senior vice president now directly owns 12,033 shares of the company’s stock, valued at approximately $982,253.79. The disclosure for this sale can be found here. In the last ninety days, insiders bought 29,000 shares of company stock valued at $8,670 and sold 253,675 shares valued at $19,571,644. 0.81% of the stock is owned by insiders.
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Discover Financial Services Company Profile
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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