First PREMIER Bank Raises Position in Visa Inc. (NYSE:V)

First PREMIER Bank lifted its position in shares of Visa Inc. (NYSE:V) by 9.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,039 shares of the credit-card processor’s stock after purchasing an additional 250 shares during the period. First PREMIER Bank’s holdings in Visa were worth $797,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Citizens National Bank Trust Department raised its position in shares of Visa by 2.2% in the fourth quarter. Citizens National Bank Trust Department now owns 21,167 shares of the credit-card processor’s stock valued at $5,511,000 after buying an additional 450 shares during the last quarter. RPG Investment Advisory LLC acquired a new position in shares of Visa in the fourth quarter valued at approximately $229,000. Highview Capital Management LLC DE raised its position in shares of Visa by 0.7% in the fourth quarter. Highview Capital Management LLC DE now owns 17,370 shares of the credit-card processor’s stock valued at $4,522,000 after buying an additional 120 shares during the last quarter. Vaughan David Investments LLC IL raised its position in shares of Visa by 3.1% in the fourth quarter. Vaughan David Investments LLC IL now owns 1,548 shares of the credit-card processor’s stock valued at $403,000 after buying an additional 46 shares during the last quarter. Finally, NewEdge Wealth LLC raised its position in shares of Visa by 5.8% in the fourth quarter. NewEdge Wealth LLC now owns 126,889 shares of the credit-card processor’s stock valued at $33,036,000 after buying an additional 6,911 shares during the last quarter. 82.15% of the stock is owned by hedge funds and other institutional investors.

Visa Stock Up 2.2 %

NYSE V traded up $5.67 during trading hours on Thursday, reaching $266.81. 7,397,535 shares of the company’s stock were exchanged, compared to its average volume of 7,241,343. The company’s 50-day moving average is $266.63 and its two-hundred day moving average is $273.64. Visa Inc. has a one year low of $227.78 and a one year high of $290.96. 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 $486.21 billion, a price-to-earnings ratio of 29.81, a price-to-earnings-growth ratio of 1.83 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly 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 company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned $2.16 EPS. On average, analysts forecast that Visa Inc. will post 9.91 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Friday, August 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.78%. Visa’s dividend payout ratio is presently 23.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a report on Friday, August 9th. Citigroup lowered their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Robert W. Baird raised their price target on shares of Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. UBS Group raised their price target on shares of Visa from $315.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Oppenheimer raised their price target on shares of Visa from $297.00 to $299.00 and gave the company an “outperform” rating in a report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $307.25.

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.