Company Update (NYSE:DFS): Discover Financial Services Declares Quarterly Dividend for Preferred and Common Stock

The Board of Directors of Discover Financial Services (NYSE:DFS) declared a quarterly cash dividend on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series B, in the amount of $16.25 per share. The dividend equals $0.40625 per depositary share, each representing 1/40th interest in a share of the Series B Preferred Stock. The dividend will be payable on September 1, 2015, to the holders of record at the close of business on August 17, 2015.

The Board of Directors also declared a quarterly cash dividend of $0.28 per share of common stock payable on August 20, 2015, to holders of record at the close of business on August 6, 2015. (Original Source)

Shares of Discover Financial Services closed today at $59.31, up $0.51 or 0.87%. DFS has a 1-year high of $66.75 and a 1-year low of $54.02. The stock’s 50-day moving average is $58.41 and its 200-day moving average is $58.81.

On the ratings front, Discover Financial Services has been the subject of a number of recent research reports. In a report issued on July 14, Oppenheimer analyst Ben Chittenden reiterated a Buy rating on DFS, with a price target of $76, which implies an upside of 28% from current levels. Separately, on May 6, Bernstein Research’s Kevin Pierre maintained a Hold rating on the stock .

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ben Chittenden and Kevin Pierre have a total average return of -8.7% and 2.5% respectively. Chittenden has a success rate of 42.4% and is ranked #3600 out of 3707 analysts, while Pierre has a success rate of 75.0% and is ranked #2198.

Discover Financial Services is a direct banking and payment services company. The Company offers credit card loans, private student loans, personal loans, home equity loans and deposit products.

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