Fifth Third Bancorp Has $143.96 Million Position in Visa Inc. $V

Fifth Third Bancorp boosted its holdings in Visa Inc. (NYSE:V) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 421,696 shares of the credit-card processor’s stock after buying an additional 3,944 shares during the quarter. Fifth Third Bancorp’s holdings in Visa were worth $143,959,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in V. Atticus Wealth Management LLC increased its position in Visa by 10.4% in the 3rd quarter. Atticus Wealth Management LLC now owns 5,030 shares of the credit-card processor’s stock valued at $1,717,000 after acquiring an additional 474 shares during the period. Phillips Wealth Planners LLC increased its holdings in Visa by 8.7% in the third quarter. Phillips Wealth Planners LLC now owns 4,196 shares of the credit-card processor’s stock valued at $1,466,000 after purchasing an additional 335 shares during the period. WealthBridge Capital Management LLC increased its holdings in Visa by 4.0% in the third quarter. WealthBridge Capital Management LLC now owns 4,744 shares of the credit-card processor’s stock valued at $1,620,000 after purchasing an additional 184 shares during the period. State of New Jersey Common Pension Fund D raised its position in Visa by 2.7% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 599,174 shares of the credit-card processor’s stock worth $204,546,000 after purchasing an additional 15,699 shares during the last quarter. Finally, Kapstone Financial Advisors LLC lifted its holdings in Visa by 3.6% during the 3rd quarter. Kapstone Financial Advisors LLC now owns 3,019 shares of the credit-card processor’s stock worth $1,031,000 after buying an additional 106 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Visa

In other news, CEO Ryan Mcinerney sold 10,485 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $349.18, for a total value of $3,661,152.30. Following the completion of the sale, the chief executive officer owned 9,401 shares in the company, valued at $3,282,641.18. This represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul D. Fabara sold 2,172 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total transaction of $707,919.96. Following the transaction, the insider directly owned 26,413 shares in the company, valued at $8,608,789.09. The trade was a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.12% of the stock is owned by insiders.

Visa Price Performance

V stock opened at $314.13 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50-day moving average is $337.98 and its 200-day moving average is $339.73. 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 $570.19 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 1.80 and a beta of 0.79.

Visa (NYSE:V) last posted its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 EPS for the quarter, topping the consensus estimate of $3.14 by $0.03. Visa had a net margin of 50.23% and a return on equity of 61.74%. The company had revenue of $10.90 billion during the quarter, compared to the consensus estimate of $10.69 billion. During the same period in the previous year, the firm posted $2.75 earnings per share. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities research analysts expect that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Tuesday, February 10th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $2.68 annualized dividend and a dividend yield of 0.9%. Visa’s payout ratio is presently 25.14%.

Analyst Ratings Changes

V has been the subject of several recent research reports. Daiwa America raised Visa from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $395.00 price objective on shares of Visa in a research note on Friday, January 30th. TD Cowen reiterated a “buy” rating on shares of Visa in a report on Friday, January 30th. Evercore set a $380.00 price target on shares of Visa in a report on Friday, December 12th. Finally, Raymond James Financial restated an “outperform” rating and issued a $408.00 price target (up previously from $398.00) on shares of Visa in a research report on Wednesday, October 29th. Six analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $392.21.

Visa Profile

Visa Inc is a global payments technology company that facilitates electronic funds transfers and digital commerce by connecting consumers, merchants, financial institutions and governments. The firm operates one of the world’s largest payment networks, providing processing, authorization, clearing and settlement services for credit, debit and prepaid card transactions. Visa’s network-based model enables partner banks and other issuers to offer branded payment products while Visa focuses on the infrastructure, standards and technologies that move money securely and efficiently around the world.

Visa’s product and service portfolio includes card-based payment products for consumers and businesses, real-time push-payment capabilities, tokenization and authentication services, fraud and risk-management tools, data analytics and APIs for fintech and merchant integration.