JPMorgan analyst Richard Shane keeps a Neutral rating on Discover Financial after the company announced its board has authorized management to explore a sale of the student loan portfolio and transfer of servicing to a third-party provider. The analyst views a sale of Discover’s student loan portfolio as a potential modest positive, but believes that the potential for a resumption or increase to share repurchases is likely dependent on the resolution of other regulatory matters and the announcement of a new permanent CEO.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on DFS:
- Student Loan Business Sale Rockets Discover Financial Services (NYSE:DFS) Upward
- Early notable gainers among liquid option names on November 30th
- Discover to explore sale of Discover Student Loans portfolio
- Discover initiated with an Equal Weight at Barclays
- Mortgage applications increased 2.5% from last week, MBA says