MidFirst Bank acquired a new stake in Visa Inc. (NYSE:V - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 34,833 shares of the credit-card processor's stock, valued at approximately $12,050,000. Visa accounts for approximately 0.9% of MidFirst Bank's portfolio, making the stock its 20th biggest holding.
Other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its stake in Visa by 50.1% in the fourth quarter. Brighton Jones LLC now owns 20,635 shares of the credit-card processor's stock valued at $6,522,000 after purchasing an additional 6,883 shares during the period. Revolve Wealth Partners LLC increased its position in Visa by 68.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 11,811 shares of the credit-card processor's stock valued at $3,733,000 after acquiring an additional 4,817 shares during the period. Nicholas Hoffman & Company LLC. increased its position in Visa by 4.6% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 10,941 shares of the credit-card processor's stock valued at $3,834,000 after acquiring an additional 477 shares during the period. Matrix Asset Advisors Inc. NY raised its stake in Visa by 16.9% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 1,133 shares of the credit-card processor's stock valued at $402,000 after acquiring an additional 164 shares during the last quarter. Finally, Schnieders Capital Management LLC. grew its stake in shares of Visa by 13.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 18,367 shares of the credit-card processor's stock valued at $6,521,000 after purchasing an additional 2,230 shares during the last quarter. 82.15% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Visa
In related news, CEO Ryan Mcinerney sold 31,455 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $340.14, for a total transaction of $10,699,103.70. Following the sale, the chief executive officer owned 15,174 shares of the company's stock, valued at $5,161,284.36. This trade represents a 67.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Chris Suh sold 10,639 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $324.81, for a total transaction of $3,455,653.59. Following the completion of the transaction, the chief financial officer directly owned 9,872 shares of the company's stock, valued at $3,206,524.32. The trade was a 51.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.12% of the stock is owned by corporate insiders.
More Visa News
Here are the key news stories impacting Visa this week:
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on V shares. Bank of America assumed coverage on Visa in a research note on Thursday, March 5th. They set a "buy" rating and a $410.00 price target for the company. BMO Capital Markets assumed coverage on shares of Visa in a research note on Tuesday, April 21st. They issued an "outperform" rating and a $365.00 target price for the company. Weiss Ratings lowered shares of Visa from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, April 16th. Sanford C. Bernstein restated an "outperform" rating and issued a $450.00 price objective on shares of Visa in a research report on Tuesday, June 2nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $389.00 price objective on shares of Visa in a report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $387.78.
Check Out Our Latest Stock Analysis on Visa
Visa Stock Performance
NYSE:V opened at $327.67 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $321.23 and a two-hundred day moving average price of $324.24. Visa Inc. has a twelve month low of $293.89 and a twelve month high of $359.66. The company has a market capitalization of $587.76 billion, a P/E ratio of 28.54, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77.
Visa (NYSE:V - Get Free Report) last posted its earnings results on Tuesday, April 28th. The credit-card processor reported $3.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.10 by $0.21. The firm had revenue of $11.23 billion for the quarter, compared to analyst estimates of $10.75 billion. Visa had a return on equity of 65.00% and a net margin of 51.68%.Visa's revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.76 EPS. As a group, research analysts expect that Visa Inc. will post 13.09 earnings per share for the current fiscal year.
Visa declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 28th that permits the company to buyback $20.00 billion in outstanding shares. This buyback authorization permits the credit-card processor to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.
Visa Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Tuesday, May 12th were given a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 12th. Visa's dividend payout ratio is currently 23.34%.
Visa Profile
(
Free Report)
Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world's largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa's network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.
Visa's product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.
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