Subject: Discover Financial Services (DFS)
DFS took a 15%+ nose dive on 7/20 following their quarterly earning release, where they disclosed they improperly priced merchant fees going back to 2007. Also reported that they were pausing share buy-backs until the dust settled.

Fast-forward to today, down another 10% after announcing that CEO Roger Hochschild is stepping down. I wouldn't think that would be a surprise.

Current price about 93, PE around 6.45.
Div Yield = 2.5%
VL est. for 2023 earnings is $13.25.

Outside of 2020 when EPS took a nose-dive, PE is rarely above 10.


John