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Discover Financial Services, Inc.
Type
Public
Traded as NYSE: DFS
S&P 500 Component
Industry Financial services
Founded 1985; 32 years ago (1985) (as a subsidiary of Sears)
Headquarters Riverwoods, Illinois, United States
Key people
David Nelms
(Chairman and CEO)
Products Payment systems
Revenue Increase US$10.497 billion (2016)
Operating income
Increase US$3.6 billion (2015)
Net income
Increase US$2.393 billion (2016)
Total assets Increase US$92.308 billion (2016)
Total equity Increase US$11.323 billion (2016)
Number of employees
15,549 (2017)
Parent Dean Witter Reynolds
(1985–1997)
Morgan Stanley
(1997–2007)
Website www.discover.com

Discover Financial Services, Inc. is an American financial services company, which issues the Discover Card and operates the Discover and Pulse networks, and owns Diners Club International. Discover Card is the third largest credit card brand in the United States, when measured by cards in force, with nearly 50 million cardholders.

The Discover Card was originally introduced by Sears in 1985, and was a unit of Dean Witter, which merged with Morgan Stanley in 1997. In 2007, the unit was spun off as an independent, publicly traded company. Today, Discover is headquartered in the Chicago suburb of Riverwoods, Illinois.

On December 21, 2001, Fourth quarter income at Discover card issuer Discover Financial Services Inc. grew 31% to $193 million, compared with $147 million the year before.

On March 5, 2002, the company announced that the Account Center at Discovercard.com had registered over eight million card members, an increase of 61 percent since January 2001. That September, they announced that, as of September 1, Citibank would accept the Discover(R) Card for cash advances at its approximately 450 Financial Centers and more than 2,000 ATM locations nationwide.

In April 2008, Discover Financial and Citigroup announced that Discover was purchasing the Diners Club network from Citigroup for $165 million. In May 2008, the Federal Trade Commission approved the transaction. The deal was completed on July 1, 2008. Discover stated that the Diners Club network, which is a major network outside North America, will be merged with the Discover Network, a major network in North America, creating an international network for Discover Network cards and Diners Club cards. Diners Club cards will continue to be issued by Diners Club International licensees. Discover Bank has no plans on issuing Diners Club branded cards itself.

On September 17, 2010, it was announced that Discover Financial would acquire Citigroup-owned Student Loan Corporation for $30/share. The deal was finalized on December 31.

On June 6, 2012, Tree.com, Inc. completed the sale of substantially all of the operating assets of its Home Loan Center, Inc. business to a wholly owned subsidiary of Discover Financial. In exchange for the assets sold, Discover paid an aggregate of $45.9 million including payments made prior to the closing which were applied to the closing price. On June 12, 2012, Discover began originating mortgages with its launch of Discover Home Loans, offering prime variable- and fixed-rate conventional and FHA home mortgage loans.

Following the 2007-08 financial crisis, Discover received about $1.2 billion in bailout funds under the Troubled Asset Relief Program, also known as TARP. The company announced in 2010 that it had received approval to pay back the funds.

In the United States, Discover, as a card brand, competes primarily with Visa, MasterCard, and American Express. Unlike Visa and MasterCard, Discover directly issues its cards, through its Discover Bank unit. Discover is the sixth largest credit card issuer in the U.S., when measured by card balances, behind JPMorgan Chase, Citigroup, Bank of America, Capital One and American Express, and ahead of Wells Fargo and U.S. Bank.

In addition to its card products, Discover also markets savings products, checking accounts, personal loans, student loans, and home equity loans. The company also began offering a Discover Debit card product directly to banks in 2006, through its Pulse interbank network, which Discover acquired in 2004.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q4 2020 2021-01-21 Future report Set alerts
Q3 2020 2020-10-20 Future report Set alerts
Q2 2020 2020-07-22 -1.20 -1.20
Q1 2020 2020-04-22 -0.25 -0.25
Q4 2019 2020-01-23 2.25 2.25
Q3 2019 2019-10-22 2.36 2.36
Q2 2019 2019-07-23 2.32 2.32
Q1 2019 2019-04-25 2.15 2.15
Q4 2018 2019-01-24 2.03 2.03
Q3 2018 2018-10-25 2.05 2.05

Ratings

2016-07-09 Reiterated Rating Nomura Holdings Inc. Buy
2016-07-09 Reiterated Rating Wells Fargo & Co. Buy
2016-07-08 Reiterated Rating DA Davidson Buy $62.00
2016-07-05 Reiterated Rating Credit Suisse Group AG Outperform
2016-06-30 Reiterated Rating JPMorgan Chase & Co. Hold
2016-06-26 Reiterated Rating Deutsche Bank Buy
2016-06-26 Reiterated Rating Deutsche Bank AG Buy
2016-06-23 Reiterated Rating Morgan Stanley Buy $70.00
2016-06-23 Reiterated Rating JMP Securities Buy $63.00
2016-06-15 Reiterated Rating Evercore ISI Buy $59.00
2016-06-15 Reiterated Rating Deutsche Bank Buy
2016-06-09 Reiterated Rating JPMorgan Chase & Co. Hold
2016-05-27 Reiterated Rating Nomura Buy $61.00
2016-05-27 Reiterated Rating Nomura Holdings Inc. Buy $61.00
2016-05-18 Reiterated Rating Deutsche Bank Buy
2016-05-11 Downgrade Macquarie Outperform to Neutral $59.00
2016-05-04 Reiterated Rating Deutsche Bank Buy $61.00 to $63.00
2016-04-21 Reiterated Rating Evercore ISI Buy $57.00 to $59.00
2016-04-20 Reiterated Rating Bank of America Hold $56.00
2016-04-20 Boost Price Target Sanford C. Bernstein Outperform $68.00 to $71.00
2016-04-20 Boost Price Target Stifel Nicolaus Buy $60.00 to $62.00
2016-04-20 Boost Price Target JPMorgan Chase & Co. Neutral $55.00 to $58.00
2016-04-20 Boost Price Target Goldman Sachs Buy $60.00 to $63.00
2016-04-20 Reiterated Rating Bank of America Corp. Hold $56.00
2016-04-20 Boost Price Target Goldman Sachs Group Inc. Buy $60.00 to $63.00
2016-04-09 Reiterated Rating Deutsche Bank Buy
2016-03-16 Reiterated Rating William Blair Outperform
2016-02-26 Lower Price Target Goldman Sachs Buy $61.00 to $60.00
2016-02-18 Lower Price Target Deutsche Bank Hold $64.00 to $61.00
2016-02-11 Lower Price Target Nomura Buy $65.00 to $61.00
2016-02-11 Downgrade Bank of America Buy to Neutral
2016-01-28 Lower Price Target Macquarie Outperform $71.00 to $59.00
2016-01-28 Lower Price Target BMO Capital Markets Market Perform $63.00 to $59.00
2016-01-28 Lower Price Target Barclays Overweight $68.00 to $63.00
2016-01-28 Lower Price Target Oppenheimer Outperform $76.00 to $67.00
2016-01-28 Lower Price Target RBC Capital Top Pick $69.00 to $68.00
2016-01-28 Reiterated Rating Evercore ISI Buy $57.00
2016-01-28 Reiterated Rating JPMorgan Chase & Co. Hold
2016-01-28 Reiterated Rating William Blair Buy
2016-01-28 Lower Price Target Barclays PLC Overweight $68.00 to $63.00
2016-01-28 Lower Price Target Oppenheimer Holdings Inc. Outperform $76.00 to $67.00
2016-01-28 Lower Price Target Royal Bank Of Canada Top Pick $69.00 to $68.00
2016-01-14 Downgrade JPMorgan Chase & Co. Overweight to Neutral $60.00 to $56.00
2016-01-13 Downgrade Goldman Sachs Buy $63.00
2016-01-13 Initiated Coverage DA Davidson Buy $63.00
2016-01-11 Upgrade Evercore ISI Hold to Buy $57.00
2016-01-07 Upgrade Deutsche Bank Hold to Buy $61.00 to $64.00
2015-12-28 Initiated Coverage Evercore ISI Hold
2015-12-22 Initiated Coverage JMP Securities Outperform
2015-12-22 Initiated Coverage Evercore ISI Hold
2015-12-16 Upgrade Argus Hold to Buy $60.00
2015-11-02 Initiated Coverage BMO Capital Markets Market Perform
2015-10-21 Boost Price Target Oppenheimer Outperform $73.00 to $75.00
2015-10-21 Lower Price Target Stifel Nicolaus Buy $69.00 to $68.00
2015-10-19 Lower Price Target RBC Capital Top Pick $77.00 to $69.00
2015-10-08 Lower Price Target JPMorgan Chase & Co. $68.00 to $60.00
2015-10-08 Lower Price Target Credit Suisse Outperform $71.00 to $68.00
2015-10-08 Lower Price Target Credit Suisse Group AG Outperform $71.00 to $68.00
2015-10-06 Reiterated Rating Oppenheimer Outperform $76.00 to $73.00
2015-10-06 Reiterated Rating Deutsche Bank Buy
2015-10-05 Upgrade Sanford C. Bernstein Market Perform to Outperform $69.00
2015-10-02 Lower Price Target Janney Montgomery Scott Buy $70.00 to $66.00
2015-09-22 Reiterated Rating Nomura Buy $66.00 to $61.00
2015-09-09 Initiated Coverage Sterne Agee CRT Buy $65.00
2015-09-05 Reiterated Rating Bank of America Buy $70.00
2015-08-06 Reiterated Rating Deutsche Bank Hold $64.00 to $61.00
2015-07-26 Reiterated Rating Deutsche Bank Hold $64.00
2015-07-23 Boost Price Target BMO Capital Markets Market Perform $66.00 to $67.00
2015-07-23 Lower Price Target Stifel Nicolaus Buy $70.00 to $69.00
2015-07-14 Reiterated Rating Oppenheimer Buy $76.00
2015-06-29 Lower Price Target Oppenheimer $77.00 to $76.00
2015-06-18 Initiated Coverage Stifel Nicolaus Buy $70.00
2015-05-23 Reiterated Rating Sanford C. Bernstein Hold $69.00
2015-05-06 Reiterated Rating Nomura Buy $66.00
2015-05-06 Reiterated Rating Oppenheimer Outperform $77.00
2015-05-06 Boost Price Target Sanford C. Bernstein Market Perform $58.61 to $69.00
2015-05-06 Downgrade Goldman Sachs Conviction-Buy to Buy
2015-04-26 Reiterated Rating Oppenheimer Outperform $77.00
2015-04-22 Reiterated Rating Nomura Buy $68.00 to $66.00
2015-04-22 Reiterated Rating Citigroup Inc. Buy $70.00 to $68.00
2015-04-15 Upgrade JPMorgan Chase & Co. Neutral to Overweight $65.00
2015-04-13 Initiated Coverage Wells Fargo & Co. Outperform
2015-04-13 Initiated Coverage Wells Fargo Outperform
2015-03-18 Reiterated Rating Deutsche Bank Hold $68.00
2015-03-13 Boost Price Target Oppenheimer Outperform $72.00 to $76.00
2015-02-11 Initiated Coverage BMO Capital Markets Market Perform
2015-01-28 Downgrade Guggenheim Buy to Neutral
2015-01-23 Reiterated Rating FBR & Co. Outperform
2015-01-23 Reiterated Rating FBR & Co Outperform
2015-01-22 Set Price Target Nomura Buy $68.00
2015-01-22 Reiterated Rating Janney Montgomery Scott Buy
2015-01-22 Set Price Target RBC Capital Buy $70.00 to $72.00
2014-12-17 Initiated Coverage Jefferies Group Buy $75.00
2014-12-09 Boost Price Target Keefe, Bruyette & Woods Market Perform $72.00 to $75.00
2014-11-24 Reiterated Rating Nomura Buy $75.00
2014-11-19 Initiated Coverage Sanford C. Bernstein Market Perform $74.00
2014-11-14 Reiterated Rating Burke & Quick Market Outperform to Market Perform $73.00 to $70.00
2014-11-13 Downgrade Deutsche Bank Buy to Hold $73.00 to $68.00
2014-10-22 Lower Price Target Oppenheimer Outperform $73.00 to $69.00
2014-10-22 Lower Price Target FBR & Co. Outperform $72.00 to $70.00
2014-10-22 Lower Price Target RBC Capital Outperform $73.00 to $69.00
2014-10-09 Reiterated Rating Buckingham Research Buy $70.00 to $72.00
2014-10-07 Reiterated Rating Oppenheimer Outperform $74.00 to $73.00
2014-07-23 Boost Price Target Susquehanna Positive $66.00 to $77.00
2014-07-23 Boost Price Target Oppenheimer Outperform $72.00 to $74.00
2014-07-23 Reiterated Rating Deutsche Bank Buy $62.00 to $68.00
2014-07-23 Boost Price Target SunTrust Neutral $63.00 to $69.00
2014-07-23 Boost Price Target SunTrust Banks Inc. Neutral $63.00 to $69.00
2014-07-21 Boost Price Target RBC Capital Top Pick $66.00 to $71.00
2014-07-16 Reiterated Rating JPMorgan Chase & Co. Neutral $59.00 to $65.00
2014-07-14 Boost Price Target Citigroup Inc. Buy $63.00 to $72.00
2014-07-14 Boost Price Target Credit Suisse $62.00 to $71.00
2014-07-10 Initiated Coverage Burke & Quick Market Outperform
2014-07-10 Boost Price Target Keefe, Bruyette & Woods $64.00 to $72.00
2014-07-10 Boost Price Target Barclays Overweight $63.00 to $71.00
2014-07-09 Initiated Coverage Macquarie Outperform $74.00
2014-07-07 Boost Price Target Oppenheimer Outperform $63.00 to $72.00
2014-07-07 Boost Price Target FBR & Co. Outperform $65.00 to $72.00
2014-04-23 Reiterated Rating SunTrust Neutral $58.00 to $63.00
2014-04-23 Reiterated Rating Bank of America Buy $63.00
2014-04-23 Boost Price Target RBC Capital Top Pick $63.00 to $66.00
2014-04-03 Boost Price Target Oppenheimer Outperform $60.00 to $63.00
2014-03-27 Boost Price Target Sterne Agee CRT $64.00
2014-03-03 Boost Price Target Guggenheim $2.00 to $68.00
2014-02-28 Reiterated Rating Deutsche Bank Buy $62.00
2014-02-27 Boost Price Target Sterne Agee CRT $58.00 to $64.00
2014-02-26 Boost Price Target Susquehanna $58.00 to $66.00
2014-02-14 Upgrade Jefferies Group Hold to Buy $57.00 to $65.00
2014-01-28 Upgrade Morgan Stanley Equal Weight to Overweight $66.00
2014-01-24 Boost Price Target FBR & Co. Outperform $57.00 to $65.00
2014-01-14 Boost Price Target Guggenheim $62.00 to $66.00
2014-01-10 Lower Price Target Barclays $63.00 to $59.00
2013-12-18 Initiated Coverage SunTrust Neutral
2013-11-19 Reiterated Rating Nomura Buy $57.00 to $61.00
2013-10-27 Reiterated Rating Barclays Buy $59.00
2013-10-22 Boost Price Target Sterne Agee CRT Buy $54.00 to $58.00
2013-10-22 Reiterated Rating Deutsche Bank Buy $62.00
2013-10-22 Boost Price Target FBR & Co. Outperform $55.00 to $57.00
2013-10-14 Initiated Coverage Deutsche Bank Positive to Buy $62.00
2013-10-11 Boost Price Target Barclays Overweight $57.00 to $59.00
2013-10-10 Upgrade Citigroup Inc. Neutral to Buy $56.00
2013-09-16 Boost Price Target Credit Suisse $58.00 to $59.00
2013-03-13 Upgrade FBR Capital Mkt Perform to Outperform $42 to $48
2012-12-21 Downgrade FBR Capital Outperform to Mkt Perform $44 to $42
2012-10-03 Downgrade Argus Buy to Hold
2016-07-09 Reiterated Rating Nomura Holdings Inc. Buy
2016-07-09 Reiterated Rating Wells Fargo & Co. Buy
2016-07-08 Reiterated Rating DA Davidson Buy $62.00
2016-07-05 Reiterated Rating Credit Suisse Group AG Outperform
2016-06-30 Reiterated Rating JPMorgan Chase & Co. Hold

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
NELMS DAVID W Chairman and CEO 0.29%  (1330665) CDW / DFS /
HOCHSCHILD ROGER C President and COO 0.15%  (710760) DFS / PFG /
Minetti Carlos Executive Vice President 0.03%  (148852) DFS /
Offereins Diane E Executive Vice President 0.02%  (108501) DFS / WSTC /
Corley Kathryn McNamara EVP,General Counsel&Secretary 0.02%  (98751) DFS /
Graf R. Mark EVP & CFO 0.02%  (71891) DFS / SIG /
Panzarino James V EVP,Chief Credit Risk Officer 0.02%  (69850) DFS /
Cunningham Steven E SVP & Chief Corp. Risk Officer 0.01%  (69128) DFS /
Case Gregory C 0.01%  (66195) AON / DFS /
ARONIN JEFFREY S 0.01%  (66195) DFS /
BUSH MARY K 0.01%  (58734) DFS / MANT / MAR / TROW /
Glassman Cynthia A 0.01%  (54731) DFS / NCI /
Moskow Michael H 0.01%  (52351) DFS / TAYC /
MAHERAS THOMAS G 0.01%  (51120) DFS /
WEINBACH LAWRENCE A 0.01%  (51007) AVP / DFS /
SMITH E FOLLIN 0.01%  (43523) DFS / KRFT / R /
Hughes Brian SVP, Chief Risk Officer 0.01%  (40646) DFS /
Schneider Glenn P SVP & CIO 0.01%  (39068) DFS /
Loeger Julie A SVP, Chief Marketing Officer 0.01%  (37057) DFS /
Rose R Douglas SVP, Chief HR Officer 0.01%  (32244) DFS /

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