Trust Department MB Financial Bank N A grew its stake in Visa Inc (NYSE:V) by 2.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 92,100 shares of the credit-card processor’s stock after buying an additional 1,915 shares during the period. Visa makes up approximately 1.4% of Trust Department MB Financial Bank N A’s holdings, making the stock its 15th biggest position. Trust Department MB Financial Bank N A’s holdings in Visa were worth $13,824,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in V. BlackRock Inc. lifted its position in shares of Visa by 1.3% during the 2nd quarter. BlackRock Inc. now owns 121,549,085 shares of the credit-card processor’s stock worth $16,099,178,000 after purchasing an additional 1,535,089 shares during the last quarter. FMR LLC raised its holdings in Visa by 2.9% in the 2nd quarter. FMR LLC now owns 85,466,413 shares of the credit-card processor’s stock valued at $11,320,026,000 after acquiring an additional 2,398,540 shares in the last quarter. Fisher Asset Management LLC raised its holdings in Visa by 3.8% in the 2nd quarter. Fisher Asset Management LLC now owns 17,685,789 shares of the credit-card processor’s stock valued at $2,342,483,000 after acquiring an additional 639,522 shares in the last quarter. Edgewood Management LLC raised its holdings in Visa by 2.5% in the 2nd quarter. Edgewood Management LLC now owns 15,192,387 shares of the credit-card processor’s stock valued at $2,012,232,000 after acquiring an additional 365,072 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Visa by 10.9% in the 2nd quarter. American Century Companies Inc. now owns 11,098,080 shares of the credit-card processor’s stock valued at $1,469,941,000 after acquiring an additional 1,091,838 shares in the last quarter. 80.15% of the stock is owned by institutional investors.
Several equities analysts have commented on the company. Zacks Investment Research raised Visa from a “hold” rating to a “buy” rating and set a $153.00 price target for the company in a report on Tuesday, July 31st. Barclays assumed coverage on Visa in a report on Wednesday, November 14th. They issued an “overweight” rating and a $170.00 price target for the company. Goldman Sachs Group cut Visa from a “conviction-buy” rating to a “buy” rating and set a $160.00 price target for the company. in a report on Monday, September 17th. BMO Capital Markets upped their price target on Visa from $187.00 to $196.00 and gave the company an “outperform” rating in a report on Thursday, October 25th. Finally, Bank of America upped their price target on Visa from $155.00 to $163.00 and gave the company a “buy” rating in a report on Monday, August 13th. Two investment analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $156.09.
Visa (NYSE:V) last released its quarterly earnings results on Wednesday, October 24th. The credit-card processor reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.01. The business had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.44 billion. Visa had a return on equity of 38.00% and a net margin of 49.98%. Analysts forecast that Visa Inc will post 5.32 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Investors of record on Friday, November 16th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 15th. This is a positive change from Visa’s previous quarterly dividend of $0.21. This represents a $1.00 dividend on an annualized basis and a yield of 0.75%. Visa’s dividend payout ratio is 21.69%.
In other Visa news, EVP William M. Sheedy sold 3,643 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $133.07, for a total value of $484,774.01. Following the transaction, the executive vice president now directly owns 241,983 shares in the company, valued at approximately $32,200,677.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William M. Sheedy sold 99,636 shares of the stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $139.28, for a total value of $13,877,302.08. Following the completion of the transaction, the executive vice president now owns 296,925 shares in the company, valued at $41,355,714. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
Visa Inc operates as a payments technology company worldwide. The company facilitates commerce through the transfer of value and information among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a processing network that enables authorization, clearing, and settlement of payment transactions; and offers fraud protection for account holders and assured payment for merchants.
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