Is Discover Financial Services (NYSE:DFS) a Bargain? Update on The Stock

Rodiano Bonacci
Ottobre 24, 2017

Discover Financial Services (NYSE:DFS) appreciated by 1.39% at $66.57, after hitting low of $66.21 in an intra-day trade. Colony Group LLC's holdings in Discover Financial Services were worth $4,171,000 at the end of the most recent quarter. Finally, Rothschild Asset Management Inc. raised its stake in shares of Discover Financial Services by 25.8% during the 1st quarter. National Asset Management Inc. now owns 4,614 shares of the financial services provider's stock worth $288,000 after acquiring an additional 231 shares during the period. Livforsakringsbolaget Skandia Omsesidigt now owns 59,149 shares of the financial services provider's stock worth $3,170,000 after buying an additional 9,900 shares in the last quarter. Ameritas Investment Partners Inc. now owns 70,159 shares of the financial services provider's stock valued at $4,361,000 after purchasing an additional 9,437 shares in the last quarter. It also increased its holding in New Gold Inc Cda (NYSEMKT:NGD) by 665,983 shares in the quarter, for a total of 1.44 million shares, and has risen its stake in Invesco High Income Tr Ii (VLT). Company insiders own 0.96% of the company's stock. Laurion Capital Management LP bought a new position in shares of Discover Financial Services during the 1st quarter worth approximately $1,033,000. If you are viewing this story on another domain, it was copied illegally and republished in violation of United States and worldwide copyright laws. The legal version of this report can be viewed at https://www.truebluetribune.com/2017/10/22/colony-group-llc-increases-holdings-in-discover-financial-services-dfs.html.

A number of research analysts have recently issued reports on DFS shares. Zacks Investment Research lowered shares of Discover Financial Services from a "hold" rating to a "sell" rating in a research note on Tuesday, October 17th. Wedbush started coverage on Discover Financial Services in a report on Monday, October 10th. Buckingham Research began coverage on shares of Discover Financial Services in a research note on Monday, October 2nd. Keefe Bruyette & Woods has "Buy" rating and $8400 target. ValuEngine upgraded shares of Discover Financial Services from a "hold" rating to a "buy" rating in a report on Tuesday, September 26th. Presently, analysts polled by Zacks Research have set a consensus target price of $69.92 on shares of Discover Financial Services (NYSE:DFS). Todd Asset Management Llc sold 18,753 shares as the company's stock declined 15.69% while stock markets rallied.

Equity analysts will routinely provide stock price target projections. The institutional investor owned 198,720 shares of the financial services provider's stock after buying an additional 1,400 shares during the period. The shares were sold at an average price of $61.29, for a total transaction of $490,320.00.

Lowe Brockenbrough & Company Inc decreased Exxon Mobil Corp Com (NYSE:XOM) stake by 6,956 shares to 302,732 valued at $24.44M in 2017Q2. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

In other Discover Financial Services news, CEO David W. Nelms sold 30,000 shares of the business's stock in a transaction on Tuesday, August 1st. Following the sale, the chief operating officer now directly owns 814,999 shares in the company, valued at $49,747,538.96. The disclosure for this sale can be found here. Saba Capital Management Lp sold 39,459 shares as the company's stock rose 1.35% with the market. Rdl Financial Inc who had been investing in Jazz Pharmaceuticals Plc for a number of months, seems to be less bullish one the $8.71 billion market cap company. Discover Financial Services has a 12-month low of $42.86 and a 12-month high of $73.62.

Let's also take a brief look at the stock price in relation to some highs/lows and moving averages.

Having a price of $58.91, Discover Financial Services (NYSE:DFS) traded 1.39% higher on the day. The hedge fund run by Joshua Nash held 320,568 shares of the consumer services company at the end of 2017Q2, valued at $19.94 million, up from 160,000 at the end of the previous reported quarter. New York-based Jpmorgan Chase has invested 0.1% in Discover Financial Services (NYSE:DFS). The business had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.40 billion. For the full year, analysts expect earnings to decline -23.28% yoy to $1.45. The business's quarterly revenue was up 9.2% compared to the same quarter past year. Shareholders of record on Wednesday, November 22nd will be paid a dividend of $0.35 per share. The ex-dividend date is Tuesday, November 21st. This represents a $1.40 dividend on an annualized basis and a yield of 2.10%. Discover Financial Services's dividend payout ratio is now 24.18%.

Discover Financial Services announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $2.23 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 9.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board believes its shares are undervalued.

Discover Financial Services (DFS) is a direct banking and payment services company.

Central Bank & Trust Co decreased Discover Financial Services (DFS) stake by 86.2% reported in 2017Q2 SEC filing. The Firm operates through two divisions: Direct Banking and Payment Services.

Discover Financial Services is a direct banking and payment services company.

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