Discover Financial Services (DFS) is Initiated by Wedbush to Neutral, Price Target at $63

Discover Financial Services (DFS) was Initiated by Wedbush to “Neutral” and the brokerage firm has set the Price Target at $63. Wedbush advised their investors in a research report released on Oct 11, 2016.

Many Wall Street Analysts have commented on Discover Financial Services. Company shares were Reiterated by RBC Capital Mkts on Jul 20, 2016 to “Top Pick”, Firm has raised the Price Target to $ 73 from a previous price target of $68 .

On the company’s financial health, Discover Financial Services reported $1.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 19, 2016. Analyst had a consensus of $1.40. The company had revenue of $2216.00 million for the quarter, compared to analysts expectations of $2228.30 million. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.

Discover Financial Services closed down -0.27 points or -0.48% at $56.4 with 25,77,726 shares getting traded on Friday. Post opening the session at $56.78, the shares hit an intraday low of $56.31 and an intraday high of $57.1 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Oct 5, 2016, Diane E Offereins (EVP) sold 10,000 shares at $56.45 per share price. According to the SEC, on Oct 5, 2016, Carlos Minetti (EVP) sold 10,000 shares at $56.36 per share price. On Oct 5, 2016, Roger C Hochschild (President & COO) sold 10,000 shares at $56.46 per share price, according to the Form-4 filing with the securities and exchange commission.

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 provides direct banking products and services and payment services through its subsidiaries. The Company manages its business activities in two segments: Direct Banking and Payment Services. Direct Banking segment 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 private student loans personal loans home loans home equity loans prepaid cards and other consumer lending and deposit products. The Payment Services segment includes PULSE Diners Club and the Company’s network partners business which provides payment transaction processing and settlement services on the Discover Network.

Discover Financial Services

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