Bank of America Boosts Visa (NYSE:V) Price Target to $363.00

Visa (NYSE:V) had its target price hoisted by Bank of America from $331.00 to $363.00 in a research note released on Friday morning,Benzinga reports. Bank of America currently has a neutral rating on the credit-card processor’s stock.

Several other equities analysts have also commented on V. TD Cowen increased their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price objective on Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Seaport Res Ptn upgraded Visa from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Piper Sandler increased their price objective on Visa from $322.00 to $368.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Finally, Citigroup increased their price objective on Visa from $326.00 to $354.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Visa currently has a consensus rating of “Moderate Buy” and an average target price of $352.27.

Visa Stock Performance

NYSE:V opened at $342.05 on Friday. The business’s 50-day moving average price is $317.74 and its two-hundred day moving average price is $292.96. Visa has a twelve month low of $252.70 and a twelve month high of $351.25. The stock has a market cap of $637.19 billion, a P/E ratio of 35.15, a PEG ratio of 2.27 and a beta of 0.96. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings results on Thursday, January 30th. The credit-card processor reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.09. Visa had a return on equity of 53.16% and a net margin of 54.96%. As a group, equities analysts predict that Visa will post 11.18 EPS for the current fiscal year.

Visa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Tuesday, February 11th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.69%. The ex-dividend date is Tuesday, February 11th. Visa’s dividend payout ratio (DPR) is 24.25%.

Insiders Place Their Bets

In other news, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the transaction, the insider now directly owns 17,894 shares in the company, valued at approximately $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Visa

Hedge funds have recently bought and sold shares of the company. Custom Index Systems LLC purchased a new stake in Visa in the third quarter worth about $731,000. Copley Financial Group Inc. purchased a new stake in Visa in the third quarter worth about $616,000. Oak Ridge Investments LLC increased its position in Visa by 5.9% in the fourth quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock worth $23,847,000 after buying an additional 4,198 shares in the last quarter. FORA Capital LLC purchased a new stake in Visa in the third quarter worth about $7,987,000. Finally, Chicago Capital LLC increased its position in Visa by 5.2% in the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock worth $111,331,000 after buying an additional 20,023 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

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.