Discover Finl Svcs Stock Price, News & Analysis

John Greene, CFO of Discover, will present at the Credit Suisse Financial Services Forum on February 25, 2021, at 10:30 a.m. ET. The event will be available via a live webcast on Discover’s Investor Relations website, with a replay accessible for 90 days post-conference.

Discover Financial Services (NYSE: DFS), a top U.S. digital banking and payment services provider, is known for its cash rewards Discover card. It also offers various financial services including personal loans and checking accounts. For more details, visit Discover's Investor Relations.

Discover Financial Services (NYSE: DFS) reported a net income of $799 million, or $2.59 per diluted share, for Q4 2020, marking a 13% increase from $708 million in Q4 2019. Total loans decreased by 6% year-over-year to $90.4 billion, while total revenue fell 4% to $2.824 billion. The net charge-off rate improved to 2.38%, down 81 basis points from the prior year. Direct Banking pretax income rose to $991 million. The company also announced a $1.1 billion share repurchase program. The financial results reflect a stable credit portfolio and ongoing investments in technology.

Discover Financial Services (NYSE: DFS) has approved a new share repurchase program worth $1.1 billion after suspending repurchases since March 2020. This program is set to expire on December 31, 2021, but can be terminated earlier. The repurchases will be contingent on various factors, including market conditions. Additionally, the Board of Directors announced cash dividends for preferred stocks and common stock: $2,750 per share for Series C, $4,611 for Series D, and $0.44 per share for common stock, all payable in 2021.

Discover Financial Services (NYSE: DFS) will announce its Q4 2020 results after market hours on January 20, 2021. Following the earnings release, a conference call will take place on January 21, 2021, at 7:00 a.m. Central time to discuss the results and future outlook. Discover has established itself as a major player in digital banking and payment services since 1986, recognized for its Discover card and various financial products, including loans and banking services. For details, access their Investor Relations website.

Discover's annual Holiday Shopping survey reveals a significant shift in consumer spending due to the COVID-19 pandemic. 35% of consumers plan to cut back on holiday spending, nearly double from 18% in 2019. Generation X and millennials are leading this trend, with 42% and 36% respectively opting to spend less. The survey highlights that 74% of consumers are shopping online more, with 68% choosing contactless payments for safety. Concerns about identity theft among Gen Z surged to 59% this year. Discover aims to assist consumers with its rotating rewards program.

areeba and Discover have entered a strategic agreement to enhance global acceptance for their cardholders. This alliance enables Discover, Diners Club, and PULSE cardholders to access areeba's POS and e-commerce platforms in Lebanon, expanding payment options. With this partnership, over 48 million global outlets are now accessible to consumers, and Discover cardholders can use more than 15,000 POS terminals and 800 e-commerce sites in Lebanon. areeba aims to further expand this alliance to include special cards for international purchases.

Discover Financial Services has established a new Data and Analytics (DNA) organization, appointing Executive Vice President Keith Toney as Chief Data and Analytics Officer. This strategic move aims to enhance the company's data-driven decision-making across all business lines. Toney, who joined Discover in 2019, will lead initiatives that integrate data science and machine learning to improve customer engagement and operational efficiency. The DNA unit underscores Discover's commitment to technological advancement in financial services, positioning the company for greater business value through innovative analytics.

Discover Financial Services has announced the appointment of Shifra Kolsky as Senior Vice President, Controller & Chief Accounting Officer, effective November 2, 2020. She succeeds Ed McGrogan, who is set to retire after a 12-year tenure with the company. Kolsky, a 11-year veteran at Discover, previously held the role of Vice President and Assistant Controller, leading key initiatives such as compliance with the Sarbanes-Oxley Act and implementing robotic process automation.