First Financial Bank Trust Division Sells 1,169 Shares of Visa Inc. (NYSE:V)

First Financial Bank Trust Division lowered its position in shares of Visa Inc. (NYSE:V) by 2.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,000 shares of the credit-card processor’s stock after selling 1,169 shares during the quarter. Visa comprises 1.1% of First Financial Bank Trust Division’s holdings, making the stock its 22nd biggest position. First Financial Bank Trust Division’s holdings in Visa were worth $12,373,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of V. Westend Capital Management LLC acquired a new stake in Visa during the first quarter worth approximately $25,000. Livelsberger Financial Advisory acquired a new stake in shares of Visa during the 4th quarter worth $25,000. POM Investment Strategies LLC grew its holdings in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Frank Rimerman Advisors LLC bought a new position in shares of Visa in the fourth quarter worth $33,000. Finally, TruNorth Capital Management LLC raised its stake in Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $277.01 on Thursday. The stock has a market capitalization of $506.63 billion, a PE ratio of 30.95, a PEG ratio of 1.94 and a beta of 0.96. The business’s 50 day simple moving average is $272.17 and its 200 day simple moving average is $273.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Visa Inc. has a one year low of $227.78 and a one year high of $293.07.

Visa (NYSE:V) last posted its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, meeting analysts’ consensus estimates of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to analyst estimates of $8.92 billion. During the same period in the prior year, the firm posted $2.16 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, research analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 0.75%. The ex-dividend date was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $317.00 target price on shares of Visa in a report on Thursday, September 12th. Piper Sandler decreased their price objective on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Morgan Stanley restated an “overweight” rating and set a $322.00 price objective on shares of Visa in a research report on Wednesday, September 25th. Evercore ISI reduced their target price on Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Finally, Jefferies Financial Group lowered their price target on Visa from $325.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Six investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $310.93.

Visa Company 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.