Associated Banc Corp Purchases 477 Shares of Visa Inc. $V

Associated Banc Corp raised its position in shares of Visa Inc. (NYSE:V) by 3.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,065 shares of the credit-card processor’s stock after purchasing an additional 477 shares during the period. Associated Banc Corp’s holdings in Visa were worth $4,994,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of V. Keystone Global Partners LLC bought a new position in Visa during the first quarter valued at approximately $26,000. Family Legacy Financial Solutions LLC bought a new stake in shares of Visa in the 2nd quarter worth approximately $28,000. Harbor Asset Planning Inc. purchased a new stake in shares of Visa in the 2nd quarter valued at $29,000. Cranbrook Wealth Management LLC grew its holdings in shares of Visa by 82.0% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 41 shares during the last quarter. Finally, Hoese & Co LLP bought a new position in shares of Visa during the 2nd quarter valued at $36,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Visa Stock Up 1.6%

NYSE V opened at $334.70 on Wednesday. Visa Inc. has a 1 year low of $299.00 and a 1 year high of $375.51. The stock has a market capitalization of $609.74 billion, a PE ratio of 32.78, a PEG ratio of 1.95 and a beta of 0.87. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50-day moving average is $340.14 and its 200 day moving average is $347.61.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.01. The business had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Visa had a return on equity of 60.31% and a net margin of 50.15%.The business’s revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. Sell-side analysts forecast that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 12th will be paid a $0.67 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This is a positive change from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. Visa’s payout ratio is 26.25%.

Insider Activity at Visa

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $341.00, for a total transaction of $3,575,385.00. Following the transaction, the chief executive officer directly owned 537 shares of the company’s stock, valued at approximately $183,117. The trade was a 95.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $325.93, for a total transaction of $707,919.96. Following the completion of the transaction, the insider owned 26,413 shares of the company’s stock, valued at $8,608,789.09. This trade represents a 7.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 24,042 shares of company stock worth $8,175,152 over the last quarter. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

V has been the subject of several recent research reports. Erste Group Bank downgraded shares of Visa from a “buy” rating to a “hold” rating in a research note on Monday, September 22nd. KeyCorp reiterated an “overweight” rating and issued a $405.00 price objective on shares of Visa in a report on Wednesday, October 22nd. Citigroup raised Visa to a “strong-buy” rating in a research note on Thursday, October 23rd. Wells Fargo & Company upgraded Visa to a “strong-buy” rating in a report on Wednesday, October 22nd. Finally, UBS Group set a $425.00 price target on Visa and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average price target of $400.00.

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.