First PREMIER Bank Acquires 497 Shares of Visa Inc. (NYSE:V)

First PREMIER Bank boosted its holdings in Visa Inc. (NYSE:V) by 21.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,789 shares of the credit-card processor’s stock after acquiring an additional 497 shares during the quarter. First PREMIER Bank’s holdings in Visa were worth $778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of V. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Visa by 3.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,926 shares of the credit-card processor’s stock worth $3,663,000 after acquiring an additional 486 shares during the last quarter. GSB Wealth Management LLC raised its position in Visa by 4.3% during the third quarter. GSB Wealth Management LLC now owns 1,338 shares of the credit-card processor’s stock valued at $308,000 after purchasing an additional 55 shares in the last quarter. Providence Capital Advisors LLC lifted its stake in Visa by 11.5% during the third quarter. Providence Capital Advisors LLC now owns 1,224 shares of the credit-card processor’s stock worth $282,000 after purchasing an additional 126 shares during the last quarter. Pegasus Partners Ltd. boosted its holdings in shares of Visa by 1.4% in the 3rd quarter. Pegasus Partners Ltd. now owns 15,558 shares of the credit-card processor’s stock worth $3,578,000 after purchasing an additional 217 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of Visa by 3.1% during the 3rd quarter. Parkside Financial Bank & Trust now owns 11,053 shares of the credit-card processor’s stock valued at $2,542,000 after purchasing an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wedbush upped their target price on Visa from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 24th. Robert W. Baird upped their price objective on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Royal Bank of Canada lifted their target price on shares of Visa from $309.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Mizuho upped their price target on shares of Visa from $265.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Finally, Oppenheimer lifted their price objective on Visa from $297.00 to $299.00 and gave the stock an “outperform” rating in a report on Wednesday, April 24th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $303.76.

Insider Activity at Visa

In other news, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now directly owns 17,894 shares of the company’s stock, valued at $4,959,322.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $275.55, for a total value of $250,474.95. Following the transaction, the director now owns 2,591 shares in the company, valued at $713,950.05. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul D. Fabara sold 25,293 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $277.15, for a total transaction of $7,009,954.95. Following the sale, the insider now owns 17,894 shares in the company, valued at approximately $4,959,322.10. The disclosure for this sale can be found here. Insiders sold a total of 34,402 shares of company stock valued at $9,559,382 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Up 0.3 %

Shares of V opened at $276.17 on Tuesday. Visa Inc. has a 1-year low of $226.02 and a 1-year high of $290.96. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average price is $274.07 and its 200-day moving average price is $273.29. The firm has a market capitalization of $505.10 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 1.88 and a beta of 0.97.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, April 23rd. The credit-card processor reported $2.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.08. Visa had a net margin of 53.87% and a return on equity of 51.23%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $8.62 billion. During the same period last year, the company posted $2.09 EPS. Visa’s revenue was up 9.9% on a year-over-year basis. Sell-side analysts anticipate that Visa Inc. will post 9.94 EPS for the current year.

Visa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Friday, May 17th were paid a $0.52 dividend. The ex-dividend date was Thursday, May 16th. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. Visa’s payout ratio is currently 23.24%.

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.