Discover Financial Services (NYSE: DFS) stock lost $1.05 of its trading price in the June 30 trading session. It opened at $118.80, closed at $116.66. The intraday trading volume was 1.81 Million.
Over the past week, DFS stock price surged 2.46% and the chart reflected an upward movement of 13.45% over the past one month. On Friday, the stock chart reflected the buyers’ dominance over the sellers.
The annual price target of Discover Financial Services stock is $119.44 which is around 2-5% more than the current trading price. In the past 52 weeks DFS stock’s highest traded price was $119.91 and the lowest trading price was $87.64.
Technical indicators suggest that investors are likely to hold on to the stock for a while.
Discover Financial Services (NYSE: DFS) Earnings & Revenue
In Q1 2023, Discover Financial Services generated 1.30% more revenue than the estimated figure. The estimated revenue for the quarter was $3.70 Billion and the reported revenue was $3.75Billion.
The company is expected to report $3.87 Billion in revenue in Q2 and $3.96 Billion in the third quarter. The EPS fell by over 8% in the first quarter of the year. From the reported revenue, net income was $970.00 Million and the profit margin 20.65%.
As per data from TradingView, around 252 Million shares of Discover Financial Services are free-floating and the remaining 1.164 Million shares are closely held either by financial backers of the company or the board of members.
A major portion of the company’s income is generated from digital banking and payment services. The company operates across the United States.
The company generated $13.16 Billion from digital banking and $176 Million from payment services in the financial year 2022. The short-term total assets of the company are worth $2.75 Billion, liabilities are worth $23.63 Billion, all though in the long term, total assets of the company are worth $129.02 Billions and liabilities $93.5 Billion.
In the first quarter, OLD National Bancorp IN increased its stake in Discover Financial Services by 34.7%. Proficio Capital Partners LLC paid $112,000 for a new interest in Discover Financial Services in the first quarter. After purchasing an additional 2,279 shares OLD National Bancorp during the same period, IN now owns 8,840 shares of the financial services provider’s stock, valued at $874,000.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/02/dfs-stock-lost-1-05-intraday-despite-a-2-46-surge-over-the-week/