Welcome to our dedicated page for Discover Financial Services news (Ticker: DFS), a resource for investors and traders seeking the latest updates and insights on Discover Financial Services stock.
Discover Financial Services (NYSE: DFS) is a premier digital banking and payment services company, well-known in the U.S. financial services market. Established in 1986, Discover has grown to become one of the largest card issuers in the nation. The company's operations are categorized into two main segments: direct banking and payment services.
Direct banking encompasses the issuance of credit and debit cards, deposit accounts, personal loans, student loans, and home loans. Discover is renowned for its Discover® card, recognized as America's cash rewards pioneer. Their banking business also offers checking and savings accounts, alongside certificates of deposit.
Payment services are facilitated through the Discover Global Network, which includes the Discover Network, PULSE® (one of the largest ATM/debit networks in the U.S.), and Diners Club International®, a globally accepted payment network.
Discover is lauded for its innovative approach and exceptional customer service. The company operates the fourth-largest payment network in the U.S. by purchase volume and runs an extensive ATM network. Discover has consistently supported and motivated its employees, fostering an environment of continuous skill development and career advancement. This commitment to employee growth significantly contributes to the company's overall success.
Recent Achievements and Projects:
- In partnership with Cxmmunity Media, Discover will host the 3rd Annual Discover Bowl on December 17th, 2023. The event highlights Historically Black Colleges & Universities (HBCUs) esports talent and promotes diversity and inclusivity in gaming.
- On February 19, 2024, Discover announced its acquisition by Capital One Financial Corporation (NYSE: COF) in an all-stock transaction valued at $35.3 billion. This strategic move aims to combine complementary card businesses, create a globally competitive payments network, and leverage technology transformation.
The company's dedication to community, innovation, and diversity is evident in its strategic partnerships and initiatives. These efforts not only enhance Discover's growth but also contribute positively to societal progress. Discover’s robust financial condition, extensive product offerings, and strategic alliances position it as a key player in the financial services industry.
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Capital One Financial Corporation (COF) to acquire Discover Financial Services (DFS) in a $35.3 billion all-stock transaction, creating a global payments platform, generating $2.7 billion in synergies, and delivering attractive returns to shareholders.
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Discover's Executive Vice President and CFO to present at the 2024 RBC Capital Markets Global Financial Institutions Conference. The webcast link will be available on Discover's Investor Relations website. A replay will be accessible for 90 days post-conference.
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Discover will unveil a new commercial from the 'Especially for Everyone' brand campaign starring award-winning actress Jennifer Coolidge ahead of The Big Game kick-off on Sunday, February 11. The ad, titled 'Robots,' uses Coolidge's comedic performance to highlight the irritating expectation consumers have when calling customer service, as revealed by a recent Discover and Dynata survey. The survey found that 95% of Americans prefer engaging with a live customer service agent instead of a customer service bot.
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Discover's Executive Vice President and CFO, John Greene, will present at the UBS Financial Services Conference on February 26, 2024, at 10:30 a.m. ET. The webcast link will be available on Discover's Investor Relations website, with a 90-day replay option.
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Discover Financial Services (NYSE: DFS) has reported a net income of $388 million or $1.54 per diluted share for the fourth quarter of 2023, down from $1.0 billion or $3.74 per diluted share for the same period in 2022. The company's total loans at the end of the period were $128.4 billion, up 15% year-over-year, with total revenue net of interest expense reaching $4,196 million, a 13% increase from the previous year. The total net charge-off rate increased to 4.11% from 2.13% in 2022, and the diluted EPS dropped by 59%. Discover has also declared a semi-annual dividend for preferred stock and a quarterly dividend for common stock.
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Discover Financial Services (NYSE: DFS) will report its Fourth quarter 2023 results on January 17, 2024, followed by a conference call on January 18, 2024, to discuss the firm's results, outlook, and related matters.
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Discover Financial Services (DFS) is partnering with Cxmmunity Media for the 3rd Annual Discover Bowl, a gaming tournament and stream on Twitch, to champion Historically Black Colleges & Universities (HBCU) students and graduates. The event aims to spotlight aspiring entrepreneurs within the HBCU community, offering them a platform for visibility, support, and mentorship from established business leaders. The Discover Bowl will feature students from the HBCU Esports League competing for a total prize pool of $60,000, with a special guest appearance by NFL Legend Chad 'Ochocinco' Johnson. Discover has been a strategic partner in the HBCU Esports League for the past three seasons, contributing to the league's mission of fostering diversity and inclusivity in the gaming and media industries. The event will be streamed on Twitch and will showcase a fusion of gaming, sports, music, and diverse subcultures, celebrating the richness and vibrancy of HBCU culture.
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Discover Financial Services (NYSE: DFS) announced the appointment of Michael G. Rhodes as Chief Executive Officer and President, effective on or before March 6, 2024. Rhodes brings over 25 years of experience in the financial industry, having held senior leadership positions at TD Bank Group, Bank of America, and MBNA America Bank. The company's Board of Directors expressed confidence in Rhodes' ability to lead Discover towards achieving its strategic and financial goals, emphasizing his expertise in enhancing compliance, risk management, and corporate governance. Rhodes expressed his honor in joining Discover and leading its 20,000 employees to deliver a great customer experience and capitalize on market opportunities ahead.
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Discover Financial Services (DFS) has received a perfect 100 score and the Equality 100 Award for LGBTQ+ Workplace Inclusion for the tenth consecutive year. The company is committed to creating a diverse and inclusive workplace, as evidenced by its eight Employee Resource Groups (ERGs) and various initiatives to support the LGBTQ+ community. Discover has joined over 500 companies in support of the Equality Act and has removed the lifetime cap of $75,000 on gender transition-related coverage for employees enrolled in a Discover medical plan.
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Discover Financial Services (NYSE: DFS) announced plans to explore the sale of the Discover Student Loans portfolio and transfer servicing to a third-party provider. The company will cease student loan originations on February 1, 2024, with no impact on current customers. The move aligns with Discover's focus on core banking products and long-term shareholder value.
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FAQ
What is the current stock price of Discover Financial Services (DFS)?
The current stock price of Discover Financial Services (DFS) is $180.84 as of January 14, 2025.
What is the market cap of Discover Financial Services (DFS)?
The market cap of Discover Financial Services (DFS) is approximately 44.9B.
What is Discover Financial Services?
Discover Financial Services is a digital banking and payment services company known for its credit and debit card offerings, as well as personal, student, and home loans.
What are the main segments of Discover Financial Services?
The main segments are direct banking and payment services.
What recent partnership has Discover announced?
Discover has partnered with Cxmmunity Media to host the 3rd Annual Discover Bowl, an event promoting diversity in esports.
What major transaction did Discover announce in 2024?
Discover announced an all-stock acquisition by Capital One Financial Corporation valued at $35.3 billion.
What products does Discover offer?
Discover offers credit and debit cards, personal loans, student loans, home loans, checking and savings accounts, and certificates of deposit.
Where can Discover cards be used?
Discover cards can be used globally via the Discover Network, PULSE ATM network, and Diners Club International.
How does Discover support its employees?
Discover supports employee growth through continuous skill development and career advancement opportunities.
What is the Discover Bowl?
The Discover Bowl is an annual esports event organized by Discover to support and highlight HBCU students and graduates.
What is the significance of the Capital One acquisition?
The acquisition aims to combine Discover's and Capital One's strengths to create a globally competitive payments network and leverage technology.
How can investors access information about Discover's acquisition by Capital One?
Investors can access information via the SEC's website or through the Investor Relations departments of Capital One and Discover.
Discover Financial Services
NYSE:DFS
DFS Rankings
DFS Stock Data
44.89B
249.79M
0.57%
86.24%
1.24%
Credit Services
Personal Credit Institutions
United States of America
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