Community Bank N.A. Acquires 78 Shares of Visa Inc. (NYSE:V)

Community Bank N.A. increased its stake in Visa Inc. (NYSE:V) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,786 shares of the credit-card processor’s stock after acquiring an additional 78 shares during the quarter. Community Bank N.A.’s holdings in Visa were worth $4,831,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Visa in the 4th quarter valued at about $5,171,271,000. GAMMA Investing LLC boosted its holdings in Visa by 38,416.3% in the first quarter. GAMMA Investing LLC now owns 14,761,375 shares of the credit-card processor’s stock worth $5,173,271,000 after acquiring an additional 14,723,050 shares in the last quarter. Vanguard Group Inc. grew its stake in Visa by 4.6% in the fourth quarter. Vanguard Group Inc. now owns 159,405,343 shares of the credit-card processor’s stock valued at $50,378,465,000 after acquiring an additional 7,079,706 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Visa during the fourth quarter valued at approximately $1,955,403,000. Finally, Proficio Capital Partners LLC increased its holdings in shares of Visa by 17,018.7% during the fourth quarter. Proficio Capital Partners LLC now owns 3,949,118 shares of the credit-card processor’s stock valued at $1,248,079,000 after acquiring an additional 3,926,049 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $362.77, for a total value of $3,127,077.40. Following the completion of the transaction, the chief executive officer now directly owns 537 shares in the company, valued at approximately $194,807.49. The trade was a 94.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul D. Fabara sold 11,636 shares of the business’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $375.00, for a total transaction of $4,363,500.00. Following the sale, the insider now directly owns 26,413 shares in the company, valued at $9,904,875. The trade was a 30.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,098 shares of company stock valued at $36,738,526 over the last ninety days. 0.13% of the stock is currently owned by insiders.

Visa Price Performance

V opened at $340.16 on Thursday. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $375.51. The firm has a 50-day moving average of $351.38 and a 200 day moving average of $338.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $627.64 billion, a P/E ratio of 34.19, a PEG ratio of 2.41 and a beta of 0.94.

Visa (NYSE:V) last released its earnings results on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.08. Visa had a net margin of 52.86% and a return on equity of 56.28%. The firm had revenue of $9.59 billion for the quarter, compared to analysts’ expectations of $9.57 billion. During the same period in the previous year, the company earned $2.51 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. On average, research analysts expect that Visa Inc. will post 11.3 EPS for the current year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.69%. The ex-dividend date was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is 23.72%.

Wall Street Analysts Forecast Growth

V has been the topic of a number of recent research reports. Mizuho upgraded Visa from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $359.00 to $425.00 in a report on Thursday, June 5th. Jefferies Financial Group lifted their price objective on shares of Visa from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, May 27th. The Goldman Sachs Group assumed coverage on shares of Visa in a research report on Monday, June 2nd. They set a “neutral” rating for the company. Evercore ISI assumed coverage on shares of Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price on the stock. Finally, BMO Capital Markets lifted their price target on Visa from $370.00 to $380.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and an average target price of $372.80.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.