Huntington National Bank Reduces Holdings in Visa Inc. $V

Huntington National Bank lowered its position in Visa Inc. (NYSE:V) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 527,389 shares of the credit-card processor’s stock after selling 7,977 shares during the quarter. Visa comprises about 1.1% of Huntington National Bank’s portfolio, making the stock its 20th largest position. Huntington National Bank’s holdings in Visa were worth $180,040,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in shares of Visa during the 3rd quarter worth about $24,577,000. Clare Market Investments LLC lifted its stake in Visa by 16.2% in the third quarter. Clare Market Investments LLC now owns 5,020 shares of the credit-card processor’s stock worth $1,714,000 after purchasing an additional 700 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in shares of Visa by 52.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 2,500 shares of the credit-card processor’s stock valued at $854,000 after buying an additional 859 shares during the period. Ibex Wealth Advisors boosted its position in shares of Visa by 2.6% during the third quarter. Ibex Wealth Advisors now owns 34,407 shares of the credit-card processor’s stock valued at $11,746,000 after buying an additional 862 shares during the period. Finally, Power Wealth Management LLC grew its stake in shares of Visa by 112.0% during the third quarter. Power Wealth Management LLC now owns 3,702 shares of the credit-card processor’s stock valued at $1,264,000 after buying an additional 1,956 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Transactions at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the sale, the chief executive officer owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $411.00 price target (up from $398.00) on shares of Visa in a research note on Friday, January 30th. Royal Bank Of Canada reissued an “outperform” rating and set a $395.00 target price on shares of Visa in a research note on Friday, January 30th. Truist Financial set a $372.00 price target on shares of Visa in a research note on Tuesday, February 10th. Macquarie Infrastructure reissued an “outperform” rating and issued a $410.00 price objective on shares of Visa in a research report on Friday, January 30th. Finally, TD Cowen restated a “buy” rating on shares of Visa in a research note on Friday, January 30th. Seven investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $391.43.

Visa Stock Up 0.7%

NYSE:V opened at $319.07 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The company has a 50-day moving average of $333.00 and a 200 day moving average of $338.12. The firm has a market cap of $579.17 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 1.81 and a beta of 0.79.

Visa (NYSE:V) last posted its quarterly earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, beating the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The business had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same quarter in the previous year, the business posted $2.75 EPS. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, research analysts anticipate that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.67 per share. The ex-dividend date is Tuesday, February 10th. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s dividend payout ratio is currently 25.14%.

Visa Profile

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.