Hancock Whitney Corp Reduces Stock Position in Visa Inc. (NYSE:V)

Hancock Whitney Corp lessened its holdings in shares of Visa Inc. (NYSE:V) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 127,330 shares of the credit-card processor’s stock after selling 1,040 shares during the period. Visa comprises approximately 1.1% of Hancock Whitney Corp’s holdings, making the stock its 15th largest holding. Hancock Whitney Corp’s holdings in Visa were worth $33,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of V. Merriman Wealth Management LLC boosted its stake in shares of Visa by 3.6% during the 2nd quarter. Merriman Wealth Management LLC now owns 1,524 shares of the credit-card processor’s stock valued at $400,000 after purchasing an additional 53 shares in the last quarter. Connecticut Wealth Management LLC boosted its holdings in shares of Visa by 2.7% during the 2nd quarter. Connecticut Wealth Management LLC now owns 16,509 shares of the credit-card processor’s stock valued at $4,333,000 after buying an additional 431 shares in the last quarter. Alaethes Wealth LLC boosted its stake in Visa by 1.8% during the second quarter. Alaethes Wealth LLC now owns 8,826 shares of the credit-card processor’s stock worth $2,317,000 after acquiring an additional 156 shares in the last quarter. Legacy Financial Advisors Inc. grew its stake in shares of Visa by 4.2% in the 2nd quarter. Legacy Financial Advisors Inc. now owns 12,757 shares of the credit-card processor’s stock worth $3,348,000 after buying an additional 514 shares during the last quarter. Finally, 11 Capital Partners LP grew its stake in shares of Visa by 28.0% in the second quarter. 11 Capital Partners LP now owns 48,440 shares of the credit-card processor’s stock worth $12,714,000 after acquiring an additional 10,600 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on V shares. JPMorgan Chase & Co. upped their target price on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Evercore ISI decreased their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Citigroup dropped their price target on shares of Visa from $321.00 to $319.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. TD Cowen decreased their price objective on shares of Visa from $320.00 to $318.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. Finally, Jefferies Financial Group dropped their target price on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.22.

Insider Activity

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction that occurred on 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 directly owns 538 shares of the company’s stock, valued at $148,687.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Down 0.2 %

Shares of V stock opened at $284.67 on Friday. 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 stock has a fifty day simple moving average of $270.65 and a two-hundred day simple moving average of $273.49. The firm has a market capitalization of $518.76 billion, a PE ratio of 31.81, a PEG ratio of 2.05 and a beta of 0.96. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $293.07.

Visa (NYSE:V) last posted its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the company posted $2.16 earnings per share. Visa’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, August 9th. This represents a $2.08 annualized dividend and a dividend yield of 0.73%. Visa’s dividend payout ratio (DPR) is 23.24%.

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.