Community Bank N.A. Has $3.75 Million Position in Visa Inc. (NYSE:V)

Community Bank N.A. lifted its stake in Visa Inc. (NYSE:V) by 2.7% during the third quarter, HoldingsChannel reports. The fund owned 13,653 shares of the credit-card processor’s stock after purchasing an additional 363 shares during the quarter. Community Bank N.A.’s holdings in Visa were worth $3,754,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of V. Arvin Capital Management LP acquired a new stake in Visa in the third quarter valued at approximately $6,643,000. Beacon Investment Advisory Services Inc. raised its holdings in shares of Visa by 2.8% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 4,101 shares of the credit-card processor’s stock valued at $1,128,000 after purchasing an additional 111 shares in the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Visa by 1,620.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 72,890 shares of the credit-card processor’s stock valued at $20,046,000 after purchasing an additional 68,654 shares during the last quarter. Atom Investors LP boosted its holdings in Visa by 0.7% in the third quarter. Atom Investors LP now owns 44,687 shares of the credit-card processor’s stock worth $12,287,000 after purchasing an additional 327 shares in the last quarter. Finally, Kestra Investment Management LLC acquired a new position in Visa during the third quarter worth $1,982,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

V has been the subject of a number of analyst reports. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research report on Tuesday, September 24th. Oppenheimer reaffirmed an “outperform” rating and set a $321.00 target price (up previously from $318.00) on shares of Visa in a research report on Wednesday, October 30th. Compass Point assumed coverage on shares of Visa in a research note on Wednesday, September 4th. They issued a “buy” rating and a $319.00 price objective for the company. Citigroup raised their target price on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Visa from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

Insiders Place Their Bets

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of V stock opened at $315.08 on Monday. Visa Inc. has a 1 year low of $252.14 and a 1 year high of $316.37. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $292.09 and its 200-day moving average is $278.55. The firm has a market capitalization of $586.96 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.12 and a beta of 0.95.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.33 EPS. Sell-side analysts forecast that Visa Inc. will post 11.19 EPS for the current fiscal year.

Visa Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.75%. This is a positive change from Visa’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, November 12th. Visa’s dividend payout ratio (DPR) is presently 24.25%.

Visa Profile

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.