SouthState Bank Corp Sells 10,709 Shares of Visa Inc. $V

SouthState Bank Corp decreased its stake in shares of Visa Inc. (NYSE:VFree Report) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 163,537 shares of the credit-card processor’s stock after selling 10,709 shares during the quarter. Visa accounts for about 2.6% of SouthState Bank Corp’s investment portfolio, making the stock its 5th biggest position. SouthState Bank Corp’s holdings in Visa were worth $55,828,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Asset Planning Inc. bought a new stake in Visa during the 2nd quarter worth approximately $29,000. Sagard Holdings Management Inc. acquired a new stake in shares of Visa during the 2nd quarter worth approximately $31,000. Bare Financial Services Inc lifted its stake in shares of Visa by 287.0% in the 2nd quarter. Bare Financial Services Inc now owns 89 shares of the credit-card processor’s stock valued at $32,000 after purchasing an additional 66 shares during the period. Hoese & Co LLP bought a new position in Visa during the second quarter worth about $36,000. Finally, Quaker Wealth Management LLC grew its holdings in Visa by 202.7% during the second quarter. Quaker Wealth Management LLC now owns 114 shares of the credit-card processor’s stock valued at $40,000 after purchasing an additional 225 shares during the period. 82.15% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 10,485 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $349.18, for a total transaction of $3,661,152.30. Following the completion of the transaction, the chief executive officer owned 9,401 shares of the company’s stock, valued at approximately $3,282,641.18. This trade represents a 52.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Paul D. Fabara sold 2,172 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $8,608,789.09. The trade was a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.12% of the company’s stock.

Visa Stock Performance

Shares of V opened at $329.79 on Thursday. The stock’s 50-day simple moving average is $338.66 and its 200 day simple moving average is $341.17. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.08 and a current ratio of 1.11. The stock has a market capitalization of $600.79 billion, a price-to-earnings ratio of 30.94, a price-to-earnings-growth ratio of 1.89 and a beta of 0.79. Visa Inc. has a 52-week low of $299.00 and a 52-week high of $375.51.

Visa (NYSE:VGet Free Report) last announced its earnings results on Thursday, January 29th. The credit-card processor reported $3.17 earnings per share (EPS) for the quarter, beating 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 business had revenue of $10.90 billion during the quarter, compared to analyst estimates of $10.69 billion. During the same period in the previous year, the business posted $2.75 earnings per share. Visa’s revenue for the quarter was up 14.6% on a year-over-year basis. Research analysts forecast that Visa Inc. will post 11.3 EPS for the current fiscal year.

Visa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Tuesday, February 10th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, February 10th. Visa’s payout ratio is presently 25.14%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $395.00 price target on shares of Visa in a report on Friday, January 30th. HSBC raised shares of Visa from a “hold” rating to a “buy” rating and lifted their target price for the stock from $335.00 to $389.00 in a report on Sunday, December 7th. TD Cowen reissued a “buy” rating on shares of Visa in a report on Friday, January 30th. UBS Group restated a “buy” rating on shares of Visa in a research note on Tuesday, January 13th. Finally, Piper Sandler set a $160.00 price objective on Visa in a report on Wednesday, January 28th. Six analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $392.00.

Read Our Latest Stock Report on Visa

About Visa

(Free Report)

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.

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Institutional Ownership by Quarter for Visa (NYSE:V)

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