Discover Financial Services, through its subsidiaries, operates as a digital banking and payment services company in the United States. It operates in two segments, Digital Banking and Payment Services. The Digital Banking segment offers Discover-branded credit cards to individuals; and other consumer products and services, including private student loans, personal loans, home loans, and other consumer lending, as well as deposit products, such as certificates of deposit, money market accounts, IRA certificates of deposit, IRA savings accounts, checking accounts, and sweep accounts. The Payment Services segment operates the PULSE network, an automated teller machine, debit, and electronic funds transfer network; Diners Club International, a payments network that issues Diners Club branded charge cards and/or provides card acceptance services; and Discover Network that processes transactions for Discover-branded credit and debit cards, as well as offers payment transaction processing and settlement services. Discover has strategic network alliance agreement with Arab Financial Services. The company was incorporated in 1960 and is based in Riverwoods, Illinois.
IPO Year:
Exchange: NYSE
Website: discover.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
6/7/2024 | Neutral | BTIG Research | |
2/8/2024 | $105.00 → $133.00 | Equal-Weight → Overweight | Morgan Stanley |
1/19/2024 | $121.00 → $107.00 | Buy → Hold | HSBC Securities |
1/10/2024 | $140.00 | Hold | Deutsche Bank |
1/3/2024 | $104.00 → $129.00 | Neutral → Overweight | Piper Sandler |
12/20/2023 | $93.00 → $133.00 | Neutral → Buy | Citigroup |
12/6/2023 | $94.00 → $116.00 | Neutral → Buy | BofA Securities |
11/15/2023 | $99.00 | Equal Weight | Barclays |
11/1/2023 | $100.00 | Outperform | TD Cowen |
10/13/2023 | $104.00 | Buy | HSBC Securities |
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4 - Discover Financial Services (0001393612) (Issuer)
Barclays analyst Mark Devries maintains Discover Finl (NYSE:DFS) with a Equal-Weight and raises the price target from $135 to $137.
Discover Financial Services (NYSE:DFS) reported better-than-expected second-quarter earnings results, after the closing bell on Wednesday. Discover reported GAAP earnings of $6.06 per share, beating the estimate of $3.07 per share, and quarterly Net Interest Income (NII) of $3.524 billion, according to data from Benzinga Pro. Net interest income for the quarter increased by $347 million, or 11% year-over-year, driven by higher average receivables and net interest margin expansion. Net interest margin was 11.17%, up 11 basis points versus the prior year. "Discover's fundamental operating performance remains very good, as shown by our loan growth, margin expansion and higher non-inter
JP Morgan analyst Richard Shane maintains Discover Finl (NYSE:DFS) with a Neutral and raises the price target from $132 to $135.
RBC Capital analyst Jon Arfstrom maintains Discover Finl (NYSE:DFS) with a Sector Perform and raises the price target from $140 to $148.
BMO Capital analyst James Fotheringham maintains Discover Finl (NYSE:DFS) with a Market Perform and raises the price target from $115 to $119.
Discover Financial Services (NYSE:DFS) shares are trading higher today after the company reported better-than-expected second-quarter EPS results yesterday. The company reported GAAP earnings of $6.06 per share, beating the estimate of $3.07 per share, and quarterly Net Interest Income (NII) of $3.524 billion. RBC Capital Markets analyst Jon G. Arfstrom says the stock’s performance (Sector Perform, with a $140 price target) is likely to be influenced primarily by the pending merger with Capital One Financial Corporation (NYSE:COF), with the expectation that the acquisition will eventually be completed. Concurrently, Discover is progressing independently by addressing regulatory and
SoFi Technologies, Inc. (NASDAQ:SOFI) shares are trading mostly flat Thursday. The stock has climbed more than 20% over the past month on investors' optimism for rate cuts in the near-term. What To Know: There have also been several recent developments regarding student loans. The Biden Administration announced Thursday that it will forgive an additional $1.2 billion in student loans for 35,000 public service workers through its Public Service Loan Forgiveness (PSLF) program. Read Next: Discover Reports Better-Than-Expected Q2 Results: Here’s The Details Discover Financial Services (NYSE:DFS) announced Wednesday that it has entered into an agreement to sell its private student l
Capital One Financial Corporation (NYSE:COF) shares are trading higher Wednesday. Capital One aims to acquire Discover Financial Services (NYSE:DFS), which reported better-than-expected second-quarter results after the bell. The Details: Discover shares are trading higher after the company reported GAAP earnings of $6.06 per share, beating the estimate of $3.07 per share, and quarterly Net Interest Income (NII) of $3.524 billion. Additionally, Capital One announced a community benefits plan Wednesday that commits more than $265 billion in lending, investment and philanthropy over five years as part of its proposed acquisition of Discover. Capital One said the plan is twice as larg
Discover Financial Services (NYSE:DFS) reported its second-quarter financial results on Wednesday. Here's a look at the key figures from the report. The Details: Discover reported GAAP earnings of $6.06 per share, beating the estimate of $3.07 per share, and quarterly Net Interest Income (NII) of $3.524 billion. Net interest income for the quarter increased by $347 million, or 11% year-over-year, driven by higher average receivables and net interest margin expansion. Net interest margin was 11.17%, up 11 basis points versus the prior year. Card yield was 15.99%, up 85 basis points from the prior year primarily driven by a lower promotional balance mix and lower payment rates, part
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Card-Not-Present Transactions Account for 45% of Debit Spend; 38% of Debit Cards are Loaded into Mobile Wallets More U.S. consumers are using debit for more transactions and are spending more in the process. The 2024 PULSE Debit Issuer Study, commissioned by Discover® Financial Services' PULSE debit network and conducted by Banking & Payments Group, finds the total number of debit cards, transactions, and annual spend per active card all increased in 2023. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240808048611/en/The 2024 PULSE Debit Issuer Study found more U.S. consumers are using debit for more transactions and are spen
For the fourth consecutive year, Discover earns a top score on the Disability Equality Index® For the fourth straight year, Discover has earned a 100 score on the Disability Equality Index and been recognized as a 2024 Best Place to Work for People with Disabilities. The Disability Equality Index is a comprehensive benchmarking tool to measure disability workplace inclusion inside Fortune 1000 companies. The Disability Equality Index launched in 2015 as a joint initiative of Disability:IN and The American Association of People with Disabilities. It was created by a diverse group of business leaders, policy experts and disability advocates. Now in its tenth year, the Disability Equality
Top stressors include inflation, everyday expenses, the economy and debt Four in five Americans have anxiety about their financial situation, with 34% experiencing moderate or severe anxiety, according to a new national survey conducted by Discover® Personal Loans. The number of Americans who feel some level of financial anxiety has remained consistently high the past three years and is up nine percentage points from 2021. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240723820169/en/80% of Americans have anxiety about their financial situation. (Graphic: Business Wire) American Consumer Financial Anxiety Index a Year
Dual Purpose Facility Offers Free Use for Community Organizations; Customer Care Center Will Connect Discover with Local Talent Today, Discover was joined by federal, state and local leaders in a ribbon-cutting ceremony and reception celebrating the grand opening of its Shine Bright Community Center in Whitehall, marking a significant investment in the local community and the broader Columbus region. Combined with its Customer Care Center, which employees began working at in early June, the new facility reinforces Discover's commitment to supporting local communities and enhancing equity. Michael T. Bivens, Mayor of Whitehall, expressed his enthusiasm for the new facility, stating, "We
Global investment firms Carlyle (NASDAQ:CG) and KKR (NYSE:KKR) today announced that one or more strategic partnerships comprised of funds and accounts managed by Carlyle and KKR's respective credit businesses have agreed to purchase an approximately $10.1 billion portfolio of prime student loans from Discover Financial Services (NYSE:DFS). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240717003713/en/ "This acquisition highlights Carlyle's proven expertise in private student loans and asset-backed finance, demonstrating our Global Credit business's ability to provide scaled, tailored solutions to meet our clients' dynamic needs
Discover Financial Services (NYSE:DFS) announced today that Discover Bank ("Discover") has entered into an agreement to sell its private student loan portfolio to one or more strategic partnerships comprised of investment vehicles and accounts managed by Carlyle (NASDAQ:CG) and KKR (NYSE:KKR) , with Firstmark Services, a division of Nelnet (NYSE:NNI), assuming responsibility for servicing the portfolio upon the sale. As of June 30, 2024, the principal balance of the private student loan portfolio was approximately $10.1 billion. The purchase price payable to Discover in the transaction is at a premium to the principal balance of the private student loan portfolio and, based on certain ass
By working with Discover® Global Network, more on-installation merchants will be able to accept the card this fall The Exchange Credit Program and Discover® Global Network today announced a collaboration that will allow the Exchange Credit Program's MILITARY STAR card to be widely used across installations, improving the Quality of Life for military communities. Starting in September, Discover Global Network will allow the ability for more on-installation merchants to accept the preferred card of the military community. The Exchange Credit Program will retain control and ownership of the MILITARY STAR card and remain the issuer of the card. The MILITARY STAR card, which is administere
Today Discover announced Balance+, an innovation for its Cashback Debit Checking account, providing customers with fee-free discretionary overdraft coverage applicable on everyday debit card transactions. With many Americans continuing to live paycheck-to-paycheck, this offering highlights Discover's continued efforts to help address overdraft fees–a key customer pain point–and allows customers to seamlessly manage their money without the stress of not being able to cover everyday purchases. With Balance+, Cashback Debit account holders can overdraw their checking account up to $200 on debit card purchases with no fees. To qualify for Balance+, an account must be in good standing with a b
Discover Financial Services (NYSE:DFS) plans to report its Second quarter 2024 results after the market closes on Wednesday, July 17, 2024. The earnings release will be available through Discover's Investor Relations website at https://investorrelations.discover.com. A conference call to discuss the firm's results, outlook and related matters will be held on Thursday, July 18, 2024, at 7:00 a.m. Central Time and will be limited to prepared remarks. The live audio webcast will be accessible to the general public through Discover's Investor Relations website at https://investorrelations.discover.com. An audio replay will be available on the website following the call. About Discover Dis
Improved payment experiences are vital to merchants, with 94% considering payments a strategic priority Discover Global Network®, a leading global payment network, released the first portion of the 2024 Payment State of the Union (PSOU), one of the most comprehensive studies of its kind in the industry, providing global perspectives from merchants and consumers. The research study, commissioned by Discover Global Network with S&P Global Market Intelligence's 451 Research, uncovers key insights into merchant payment trends in response to customer payment priorities, merchant pain points and advancements in digital payments. At Money 20/20 Europe, Discover Global Network will share a first
Rhodes Brings More than 25 Years of Consumer Banking, Financial, and Technology Leadership to the Role Discover Financial Services (NYSE:DFS) today announced that the Company's Board of Directors (the "Board") has appointed Michael G. Rhodes Chief Executive Officer and President, effective on or before March 6, 2024, at which time he will be appointed to the Company's Board of Directors. He will also serve as President of Discover Bank and will be appointed to the Discover Bank Board of Directors, effective the same date. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231211406230/en/Michael G. Rhodes (Photo: Business Wire) Jo
Roger Hochschild Steps Down as Chief Executive Officer and President John Owen Appointed Interim CEO and President Discover Financial Services (NYSE:DFS) today announced that the Discover Board of Directors and Roger Hochschild have agreed that Hochschild will step down as Chief Executive Officer and President and as a member of the Board. Hochschild will serve in an advisory role at the Company through the end of the year to ensure a smooth transition. John Owen, a member of the Board, has been appointed Interim CEO and President. These changes are effective immediately. The Board has engaged a leading global executive search firm to commence a process to identify a permanent CEO and
SAN JOSE, Calif., Dec. 1, 2020 /PRNewswire/ -- Today, eBay announced the appointment of Julie Loeger as Global Chief Growth Officer (CGO). In a newly created role, as CGO, Julie will lead two critical, global teams that are focused on customer acquisition, retention and service -- Global Marketing and Global Customer Experience. Together, these teams will form eBay's Global Growth organization. Julie will report directly to Jamie Iannone, eBay's Chief Executive Officer and will join the company during the first week of January, 2021. With more than 30 years of experience, Julie possesses an impressive blend of global marketing, strategy, brand management, and product development experienc
BTIG Research initiated coverage of Discover Financial Services with a rating of Neutral
Morgan Stanley upgraded Discover Financial Services from Equal-Weight to Overweight and set a new price target of $133.00 from $105.00 previously
HSBC Securities downgraded Discover Financial Services from Buy to Hold and set a new price target of $107.00 from $121.00 previously
Deutsche Bank initiated coverage of Discover Financial Services with a rating of Hold and set a new price target of $140.00
Piper Sandler upgraded Discover Financial Services from Neutral to Overweight and set a new price target of $129.00 from $104.00 previously
Citigroup upgraded Discover Financial Services from Neutral to Buy and set a new price target of $133.00 from $93.00 previously
BofA Securities upgraded Discover Financial Services from Neutral to Buy and set a new price target of $116.00 from $94.00 previously
Barclays initiated coverage of Discover Financial Services with a rating of Equal Weight and set a new price target of $99.00
TD Cowen initiated coverage of Discover Financial Services with a rating of Outperform and set a new price target of $100.00
HSBC Securities initiated coverage of Discover Financial Services with a rating of Buy and set a new price target of $104.00
Discover Financial Services (NYSE:DFS) plans to report its Second quarter 2024 results after the market closes on Wednesday, July 17, 2024. The earnings release will be available through Discover's Investor Relations website at https://investorrelations.discover.com. A conference call to discuss the firm's results, outlook and related matters will be held on Thursday, July 18, 2024, at 7:00 a.m. Central Time and will be limited to prepared remarks. The live audio webcast will be accessible to the general public through Discover's Investor Relations website at https://investorrelations.discover.com. An audio replay will be available on the website following the call. About Discover Dis
Board of Directors Declares Quarterly Common Stock Dividend of $0.70 Per Share Discover Financial Services (NYSE:DFS): First Quarter 2024 Results 2024 2023(1) YOY Change Total loans, end of period (in billions) $126.6 $112.7 12% Total revenue net of interest expense (in millions) $4,210 $3,742 13% Total net charge-off rate 4.92% 2.72% 220 bps Net income/(loss) (in millions) $308 $968 (68%) Diluted EPS $1.10 $3.55 (69%) Note(s) 1. The comparative prior quarter ended March 31, 2023 has been restated as disclosed in
Discover Financial Services (NYSE:DFS) plans to report its First quarter 2024 results after the market closes on Wednesday, April 17, 2024. The earnings release will be available through Discover's Investor Relations website at https://investorrelations.discover.com. A conference call to discuss the firm's results, outlook and related matters will be held on Thursday, April 18, 2024, at 7:00 a.m. Central Time. The live audio webcast will be accessible to the general public through Discover's Investor Relations website at https://investorrelations.discover.com. An audio replay will be available on the website following the call. About Discover Discover Financial Services (NYSE:DFS) is
Under the terms of the agreement, Discover shareholders will receive 1.0192 Capital One shares for each Discover share, representing a premium of 26.6% based on Discover's closing price of $110.49 on February 16, 2024. Transaction is 100% stock consideration. Creates a global payments platform at scale, with 70 million merchant acceptance points in more than 200 countries and territories Positions the combined company to compete with the largest payments companies and deliver enhanced value to a franchise of over 100 million customers Enables Capital One to leverage its customer base, technology, and data ecosystem to drive more sales for merchants and great deals for consumers and small
Board of Directors Declares Semi-annual Dividend for Preferred Stock and Quarterly Dividend for Common Stock Discover Financial Services (NYSE:DFS): Fourth Quarter 2023 Results 2023 2022(1) YOY Change Total loans, end of period (in billions) $128.4 $112.1 15% Total revenue net of interest expense (in millions) $4,196 $3,721 13% Total net charge-off rate 4.11% 2.13% 198 bps Net income/(loss) (in millions) $388 $1,025 (62%) Diluted EPS $1.54 $3.74 (59%) Note(s) 1. The comparative prior quarter ended December 31, 202
Discover Financial Services (NYSE:DFS) plans to report its Fourth quarter 2023 results after the market closes on Wednesday, January 17, 2024. The earnings release will be available through Discover's Investor Relations website at https://investorrelations.discover.com. A conference call to discuss the firm's results, outlook and related matters will be held on Thursday, January 18, 2024, at 7:00 a.m. Central Time. The live audio webcast will be accessible to the general public through Discover's Investor Relations website at https://investorrelations.discover.com. An audio replay will be available on the website following the call. About Discover Discover Financial Services (NYSE:DFS
Company to Pursue Transfer of Servicing to Third-Party Provider and Plans to Cease Student Loan Originations February 1, 2024 Discover Financial Services (NYSE:DFS) today announced that the Company's Board of Directors (the "Board") has authorized Discover management to explore the sale of the Discover Student Loans portfolio and the transfer of servicing of these loans to a third-party provider as it pursues strategic alternatives for the Discover Student Loans business. Additionally, Discover will stop accepting new applications for student loans February 1, 2024. There is no impact to current Discover Student Loans customers or their loans or payments at this time. "Discover's Boar
Board of Directors Declares Quarterly Dividend for Common Stock Discover Financial Services (NYSE:DFS): Third Quarter 2023 Results 2023 2022(1) YOY Change Total loans, end of period (in billions) $122.7 $104.9 17% Total revenue net of interest expense (in millions) $4,044 $3,468 17% Total net charge-off rate 3.52% 1.71% 181 bps Net income/(loss) (in millions) $683 $1,013 (33%) Diluted EPS $2.59 $3.56 (27%) Note(s) 1. The comparative prior quarter ended September 30, 2022 has been restated to reflect immaterial
Discover Financial Services (NYSE:DFS) plans to report its third quarter 2023 results after the market closes on Wednesday, October 18, 2023. The earnings release will be available through Discover's Investor Relations website at https://investorrelations.discover.com. A conference call to discuss the firm's results, outlook and related matters will be held on Thursday, October 19, 2023, at 7:00 a.m. Central Time. The live audio webcast will be accessible to the general public through Discover's Investor Relations website at https://investorrelations.discover.com. An audio replay will be available on the website following the call. About Discover Discover Financial Services (NYSE:DFS)
Board of Directors Declares Semi-Annual Dividend for Preferred Stock and Quarterly Dividend for Common Stock Discover Financial Services (NYSE:DFS): Second Quarter 2023 Results 2023 2022(1) YOY Change Total loans, end of period (in billions) $117.9 $99.3 19% Total revenue net of interest expense (in millions) $3,878 $3,213 21% Total net charge-off rate 3.22% 1.80% 142 bps Net income/(loss) (in millions) $901 $1,103 (18)% Diluted EPS $3.54 $3.93 (10%) Note(s) 1. The comparative prior quarter ended June 30, 2022 has bee