First Financial Bank Trust Division Has $12.37 Million Stock Holdings in Visa Inc. (NYSE:V)

First Financial Bank Trust Division reduced its position in shares of Visa Inc. (NYSE:V) by 2.5% during the third quarter, Holdings Channel reports. The institutional investor owned 45,000 shares of the credit-card processor’s stock after selling 1,169 shares during the period. Visa comprises about 1.1% of First Financial Bank Trust Division’s portfolio, making the stock its 22nd largest holding. First Financial Bank Trust Division’s holdings in Visa were worth $12,373,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Global Wealth Strategies & Associates lifted its stake in shares of Visa by 79.0% in the third quarter. Global Wealth Strategies & Associates now owns 179 shares of the credit-card processor’s stock valued at $49,000 after buying an additional 79 shares in the last quarter. Mattson Financial Services LLC acquired a new stake in shares of Visa in the 2nd quarter worth about $2,300,000. Ashburton Jersey Ltd acquired a new stake in shares of Visa in the 2nd quarter worth about $14,347,000. Centaurus Financial Inc. lifted its position in Visa by 72.5% in the 2nd quarter. Centaurus Financial Inc. now owns 18,396 shares of the credit-card processor’s stock valued at $4,829,000 after acquiring an additional 7,734 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its stake in Visa by 1.2% during the 2nd quarter. Anchor Investment Management LLC now owns 101,450 shares of the credit-card processor’s stock valued at $26,627,000 after purchasing an additional 1,157 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.19% of the stock is owned by corporate insiders.

Visa Trading Down 0.2 %

NYSE:V opened at $277.01 on Thursday. Visa Inc. has a 1 year low of $227.78 and a 1 year high of $293.07. The stock’s fifty day moving average price is $272.17 and its two-hundred day moving average price is $273.10. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a market cap of $506.63 billion, a P/E ratio of 30.95, a P/E/G ratio of 1.94 and a beta of 0.96.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.42. The business had revenue of $8.90 billion for 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 firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.16 EPS. As a group, analysts expect that Visa Inc. will post 9.92 EPS for the current year.

Visa Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Friday, August 9th were given a $0.52 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.75%. Visa’s dividend payout ratio (DPR) is currently 23.24%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on V. Royal Bank of Canada lowered their price objective on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. BNP Paribas raised Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price target for the company in a research report on Tuesday, September 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $322.00 price objective on shares of Visa in a report on Wednesday, September 25th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Finally, Piper Sandler cut their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating on the stock in a report on Wednesday, July 24th. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.93.

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.