Bangor Savings Bank Grows Stock Holdings in Visa Inc. (NYSE:V)

Bangor Savings Bank boosted its stake in shares of Visa Inc. (NYSE:V) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,357 shares of the credit-card processor’s stock after buying an additional 183 shares during the period. Bangor Savings Bank’s holdings in Visa were worth $2,848,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Regal Investment Advisors LLC grew its position in Visa by 0.9% in the 4th quarter. Regal Investment Advisors LLC now owns 8,465 shares of the credit-card processor’s stock worth $2,204,000 after purchasing an additional 79 shares during the period. Unigestion Holding SA boosted its position in Visa by 212.3% in the fourth quarter. Unigestion Holding SA now owns 197,686 shares of the credit-card processor’s stock worth $51,468,000 after purchasing an additional 134,391 shares during the last quarter. Cresset Asset Management LLC increased its position in shares of Visa by 3.6% during the 4th quarter. Cresset Asset Management LLC now owns 290,095 shares of the credit-card processor’s stock valued at $75,526,000 after purchasing an additional 10,136 shares during the last quarter. Keyes Stange & Wooten Wealth Management LLC bought a new position in shares of Visa in the 4th quarter worth approximately $254,000. Finally, Visionary Wealth Advisors boosted its holdings in shares of Visa by 3.9% in the fourth quarter. Visionary Wealth Advisors now owns 4,685 shares of the credit-card processor’s stock worth $1,220,000 after buying an additional 177 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

Visa stock opened at $273.87 on Tuesday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company has a market capitalization of $500.89 billion, a PE ratio of 30.60, a P/E/G ratio of 1.92 and a beta of 0.96. The company has a 50 day moving average price of $273.00 and a 200-day moving average price of $272.86. Visa Inc. has a fifty-two week low of $228.03 and a fifty-two week high of $293.07.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, hitting the consensus estimate of $2.42. The business had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a return on equity of 51.94% and a net margin of 54.72%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.16 EPS. As a group, equities analysts forecast that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is 23.24%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Evercore ISI dropped their price target on shares of Visa from $335.00 to $330.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Piper Sandler cut their price target on Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a report on Wednesday, July 24th. William Blair upgraded Visa to a “strong-buy” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $317.00 price objective on shares of Visa in a research report on Thursday, September 12th. Finally, BMO Capital Markets increased their target price on shares of Visa from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $312.04.

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.