First American Bank Sells 1,720 Shares of Visa Inc. (NYSE:V)

First American Bank trimmed its stake in shares of Visa Inc. (NYSE:V) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,980 shares of the credit-card processor’s stock after selling 1,720 shares during the period. Visa comprises about 2.4% of First American Bank’s holdings, making the stock its 9th biggest position. First American Bank’s holdings in Visa were worth $32,989,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Skyline Advisors Inc. increased its holdings in Visa by 22.4% during the 1st quarter. Skyline Advisors Inc. now owns 1,357 shares of the credit-card processor’s stock valued at $379,000 after acquiring an additional 248 shares in the last quarter. Diversified Trust Co grew its position in shares of Visa by 11.3% in the first quarter. Diversified Trust Co now owns 69,754 shares of the credit-card processor’s stock valued at $19,467,000 after purchasing an additional 7,106 shares during the last quarter. Golden Road Advisors LLC purchased a new position in shares of Visa during the 1st quarter worth approximately $202,000. Horizon Wealth Management LLC raised its position in shares of Visa by 20.9% during the 1st quarter. Horizon Wealth Management LLC now owns 1,404 shares of the credit-card processor’s stock worth $392,000 after purchasing an additional 243 shares during the last quarter. Finally, MGO Private Wealth LLC lifted its stake in Visa by 56.5% in the 1st quarter. MGO Private Wealth LLC now owns 2,643 shares of the credit-card processor’s stock valued at $738,000 after buying an additional 954 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. 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. Oppenheimer assumed coverage on shares of Visa in a research note on Tuesday, October 1st. They set an “outperform” rating and a $318.00 price target on the stock. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. TD Cowen decreased their target price on shares of Visa from $320.00 to $318.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Finally, Royal Bank of Canada cut their price target on Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a report on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and an average price target of $314.19.

Insider Transactions at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

Visa Trading Up 0.9 %

NYSE V opened at $284.19 on Tuesday. The firm has a market capitalization of $519.77 billion, a price-to-earnings ratio of 31.75, a PEG ratio of 1.95 and a beta of 0.96. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. Visa Inc. has a one year low of $230.03 and a one year high of $293.07. The company’s 50 day moving average price is $279.37 and its 200 day moving average price is $273.22.

About Visa

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.