$DFS (Discover Financial Services)

$DFS {{ '2015-10-20T20:54:12+0000' | timeago}} • Announcement

During 3Q15, $DFS repurchased approx. 8MM shares of common stock for $435MM. Shares of common stock outstanding declined by 1.8% from the prior quarter. "Strong credit performance and continued share buybacks drove earnings per share growth," said David Nelms, CEO of Discover.

$DFS {{ '2017-06-29T11:59:04+0000' | timeago}} • Announcement

$DFS received no objections from the Federal Reserve with respect to proposed capital actions through June 30, 2018. The plan includes an increase in its next quarterly dividend from $0.30 to $0.35 per share and share repurchases of up to $2.23Bil during the four quarters ending June 30, 2018.

$DFS {{ '2017-06-27T12:37:07+0000' | timeago}} • Announcement

$DFS said its cardmembers can now make payments in the United States using Samsung Pay on the latest Samsung Galaxy smartphones and wearables. Samsung Pay works at payment terminals that use both Magnetic Secure Transmission (MST) and Near Field Communication (NFC) technology.

$DFS {{ '2017-06-05T14:52:25+0000' | timeago}} • Announcement

Financial services firm $DFS has launched a hiring initiative to fill more than 200 open positions in its Phoenix location, including full-time positions in customer service, collections and fraud. The customer care center provides customer service, banking, marketing services and support functions for Discover and Discover Network customers.

$DFS {{ '2017-05-24T16:18:57+0000' | timeago}} • Announcement

Discover Global Network, part of $DFS, entered into an agreement with Desjardins Group to expand acceptance in Canada. Merchants that have business relationships with Desjardins are now able to accept cards that run on the Discover Global Network, including Discover, Diners Club and alliance partner cards.

$DFS {{ '2017-04-25T23:13:06+0000' | timeago}} • Webcast

$DFS said that it had a couple of settlements in some open tax matters in the few states in 1Q17. The company expects tax rate to be 36-37% for the full year.

$DFS {{ '2017-04-25T22:42:59+0000' | timeago}} • Webcast

$DFS expected that increase in charge-offs is expected to increase from third into fourth quarter. The company expects to spend more in marketing this year than the last year.

$DFS {{ '2017-04-25T20:50:56+0000' | timeago}} • Announcement

Direct Banking pretax income for $DFS was $824MM in 1Q17, down 7% from the prior year as higher provision for loan losses and lower other income more than offset higher net interest income. Payment Services pretax income jumped 37% to $44MM, primarily driven by a reserve release related to a Diners Club International licensee.

$DFS {{ '2017-04-25T20:47:46+0000' | timeago}} • Announcement

In 1Q17, credit card loans for $DFS grew 7% to $59.8Bil and Discover card sales volume increased 6%. Consumer deposits gained 13% from the prior year to $37.1Bil. Payment Services transaction dollar volume was $47.1Bil, up 5%. Provision for loan losses was at $594MM, up by $171MM from a year ago.

$DFS {{ '2017-04-25T20:41:43+0000' | timeago}} • Announcement

$DFS reported a net income of $564MM or $1.43 per diluted share for  1Q17, compared to $575MM or $1.35 per diluted share a year ago. Net interest income rose 8% to $1.89Bil. Net interest margin was 10.07%, up 13 basis points from the prior year. Total loans ended the quarter at $75.8Bil, up 8%.

$DFS {{ '2017-04-20T20:38:13+0000' | timeago}} • Announcement

The BoD of $DFS declared a quarterly cash dividend of $0.30 per share of its common stock. The dividend is payable on May 25, 2017 to stockholders of record ion May 11, 2017.

$DFS {{ '2017-01-24T23:30:59+0000' | timeago}} • Webcast

$DFS' card and personal loans finished 2016 with a strong 4Q16 accelerating total loan growth to almost 7% over the prior year. Card balances were driven by increased sales, which were up 3%, a higher revolve rate on merchandise sales and higher promotional balances. Personal loans grew 18% over the prior year. Student loans grew 2%.

$DFS {{ '2017-01-24T23:18:46+0000' | timeago}} • Webcast

$DFS' total net charge-off rate, excluding acquired loans, was 2.24% in 2016, up 12BP from 2015. Personal loans had originations of $4Bil, an increase of 31% over the prior year. Growth in originations was largely fueled by product enhancements and strong execution.

$DFS {{ '2017-01-24T22:21:08+0000' | timeago}} • Announcement

During 4Q16, $DFS repurchased approx. 7.7MM shares of common stock for $477MM. Shares of common stock outstanding declined by 2.0% from the prior quarter.

$DFS {{ '2017-01-24T22:20:38+0000' | timeago}} • Announcement

During 4Q16, $DFS posted pretax income of $868MM in its largest segment, Direct Banking an increase of $101MM from prior year period, helped by higher net interest income and lower operating expenses. Payment Services pretax income was $15MM during the quarter, down $6MM from 4Q15.

$DFS {{ '2017-01-24T22:19:49+0000' | timeago}} • Announcement

Payment services company $DFS reported a 12.6% increase in its 4Q16 earnings. The company's net income increased to $563MM, or $1.40 per share compared to $500MM, or $1.14 per share during 4Q15. Revenue net of interest expense increased 6.9% YoverY to $2.35Bil from $2.20Bil.

$DFS {{ '2017-01-20T11:41:38+0000' | timeago}} • Announcement

$DFS BoD 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 will be payable on March 6, 2017, to the holders of record at the close of business on Feb. 17, 2017.

$DFS {{ '2016-10-25T23:48:51+0000' | timeago}} • Webcast

In 3Q16, in personal loans, $DFS’ net charge-off rate was up 64BP from the prior year. The 30-day delinquency rate was up 18BP from the prior year. The YoverY increases in the personal loan charge-off and delinquency rates were primarily driven by the seasoning of recent loan growth and are consistent with expectations.

$DFS {{ '2016-10-25T23:40:26+0000' | timeago}} • Webcast

$DFS said in 3Q16, EPS grew 13% YoverY and return on equity was 20%. Direct-to-consumer deposits grew 19% over the prior year. In the Payments business, PULSE volumes declined 6% YoverY. Payments Services revenue was flat YoverY as lower PULSE volumes were offset primarily by lower incentives.

$DFS {{ '2016-10-25T21:42:39+0000' | timeago}} • Announcement

$DFS' total loans grew 5% to $73.5Bil in 3Q16 from last year. Credit card loans rose 4% to $58Bil and Discover card sales volume increased 1% from 3Q15. Personal loans grew 16% YoverY. Private student loans increased 3% and grew 14%, excluding purchased student loans.

$DFS {{ '2016-10-25T21:36:15+0000' | timeago}} • Announcement

$DFS' Direct Banking pretax income for 3Q16 declined by $19MM from last year, due to higher provision for loan losses, lower other income and higher operating expenses, despite higher net interest income. Payment Services pretax income grew to $30MM from $6MM, on expense reductions.

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