Discover Financial Services (DFS, Financial) filed Annual Report for the period ended 2009-11-30.
Discover Financial Services has a market cap of $7.5 billion; its shares were traded at around $13.82 with a P/E ratio of 138.2 and P/S ratio of 0.7. The dividend yield of Discover Financial Services stocks is 0.6%.DFS is in the portfolios of PRIMECAP Management, First Pacific Advisors of First Pacific Advisors, LLC, Bruce Kovner of Caxton Associates, Manning & Napier Advisors, Inc, Manning & Napier Advisors, Inc, Manning & Napier Advisors, Inc, John Keeley of Keeley Fund Management, Diamond Hill Capital of Diamond Hill Capital Management Inc, Chuck Royce of ROYCE & ASSOCIATES, Murray Stahl of Horizon Asset Management.
In addition to credit cards, we offer installment loans, including personal loans and student loans. We have grown our installment loans significantly, from $1.4 billion at November 30, 2008 to $3.4 billion at November 30, 2009. We offer our installment loans to new and existing customers online, by phone and by mail.
In 2009, we significantly increased our direct-to-consumer deposits to $12.6 billion at November 30, 2009, up from $6.2 billion at November 30, 2008, and we expect to continue to grow our use of this deposit channel in 2010. We maintain a dedicated deposit products call center and an internet site to allow prospective and existing customers to apply for, fund and service their accounts. We market our deposit products to our credit card customers and also use industry rate comparison web sites, paid search campaigns, print advertising and affinity arrangements to offer our deposit products to prospective customers. As of November 30, 2009, 41% of our direct-to-consumer deposit account holders were also credit card customers. For more information regarding our deposit business, see Managements Discussion and Analysis of Financial Condition and Results of Operations Liquidity and Capital Resources Funding Sources Deposits.
Under our Cashback Bonus rewards program, we provide customers with up to 1% Cashback Bonus, based upon their spending level and type of purchases. Customers earn 0.25% on their first $3,000 in annual purchases and 1% once their total annual purchases exceed $3,000. Purchases made at warehouse clubs and discount stores earn a fixed Cashback Bonus reward of 0.25%.
Customers who are not delinquent or otherwise disqualified may redeem Cashback Bonus rewards at any time starting at $20 for Discover gift cards, partner gift cards or charitable donations to select charities. Customers also have the option to choose to redeem their Cashback Bonus awards for a statement credit or direct deposit to a bank account starting at and in increments of $50. Customers have the opportunity to increase their reward, up to double the reward amount, when they redeem for a brand name gift card from over 100 merchant partners.
Read the The complete Report
Discover Financial Services has a market cap of $7.5 billion; its shares were traded at around $13.82 with a P/E ratio of 138.2 and P/S ratio of 0.7. The dividend yield of Discover Financial Services stocks is 0.6%.DFS is in the portfolios of PRIMECAP Management, First Pacific Advisors of First Pacific Advisors, LLC, Bruce Kovner of Caxton Associates, Manning & Napier Advisors, Inc, Manning & Napier Advisors, Inc, Manning & Napier Advisors, Inc, John Keeley of Keeley Fund Management, Diamond Hill Capital of Diamond Hill Capital Management Inc, Chuck Royce of ROYCE & ASSOCIATES, Murray Stahl of Horizon Asset Management.
Highlight of Business Operations:
We offer credit cards, personal and student loans, and deposit products. At November 30, 2009, we had $50.9 billion in managed receivables and $12.6 billion in deposits issued through direct-to-consumer channels and affinity relationships. We operate the Discover Network, our credit card payments network; the PULSE Network (PULSE), our automated teller machine (ATM), debit and electronic funds transfer network; and Diners Club International (Diners Club), our global payments network. As we continue to work toward achieving card acceptance across our networks, we expect Discover customers to be able to use their cards at merchant and ATM locations that accept Diners Club cards in a growing number of countries around the world and Diners Club customers to be able to use their cards on the Discover Network in North America and on the PULSE Network domestically and internationally.In addition to credit cards, we offer installment loans, including personal loans and student loans. We have grown our installment loans significantly, from $1.4 billion at November 30, 2008 to $3.4 billion at November 30, 2009. We offer our installment loans to new and existing customers online, by phone and by mail.
In 2009, we significantly increased our direct-to-consumer deposits to $12.6 billion at November 30, 2009, up from $6.2 billion at November 30, 2008, and we expect to continue to grow our use of this deposit channel in 2010. We maintain a dedicated deposit products call center and an internet site to allow prospective and existing customers to apply for, fund and service their accounts. We market our deposit products to our credit card customers and also use industry rate comparison web sites, paid search campaigns, print advertising and affinity arrangements to offer our deposit products to prospective customers. As of November 30, 2009, 41% of our direct-to-consumer deposit account holders were also credit card customers. For more information regarding our deposit business, see Managements Discussion and Analysis of Financial Condition and Results of Operations Liquidity and Capital Resources Funding Sources Deposits.
Under our Cashback Bonus rewards program, we provide customers with up to 1% Cashback Bonus, based upon their spending level and type of purchases. Customers earn 0.25% on their first $3,000 in annual purchases and 1% once their total annual purchases exceed $3,000. Purchases made at warehouse clubs and discount stores earn a fixed Cashback Bonus reward of 0.25%.
Customers who are not delinquent or otherwise disqualified may redeem Cashback Bonus rewards at any time starting at $20 for Discover gift cards, partner gift cards or charitable donations to select charities. Customers also have the option to choose to redeem their Cashback Bonus awards for a statement credit or direct deposit to a bank account starting at and in increments of $50. Customers have the opportunity to increase their reward, up to double the reward amount, when they redeem for a brand name gift card from over 100 merchant partners.
Read the The complete Report
