Hancock Whitney Corp Lowers Stock Position in Visa Inc. (NYSE:V)

Hancock Whitney Corp decreased its holdings in Visa Inc. (NYSE:V) by 26.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,570 shares of the credit-card processor’s stock after selling 33,760 shares during the quarter. Visa comprises 0.8% of Hancock Whitney Corp’s investment portfolio, making the stock its 23rd largest holding. Hancock Whitney Corp’s holdings in Visa were worth $25,727,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of V. Peterson Financial Group Inc. purchased a new stake in shares of Visa in the third quarter valued at about $26,000. POM Investment Strategies LLC lifted its holdings in shares of Visa by 970.0% in the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after buying an additional 97 shares during the period. Reston Wealth Management LLC purchased a new stake in shares of Visa in the third quarter valued at approximately $31,000. TruNorth Capital Management LLC boosted its stake in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after buying an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC acquired a new position in Visa during the second quarter worth $35,000. Institutional investors and hedge funds own 82.15% of the company’s stock.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the transaction, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 94.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total value of $668,602.87. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Visa Trading Up 0.4 %

Shares of Visa stock opened at $311.30 on Monday. Visa Inc. has a fifty-two week low of $251.61 and a fifty-two week high of $312.44. The business’s fifty day moving average is $289.52 and its two-hundred day moving average is $277.34. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $579.91 billion, a PE ratio of 31.85, a P/E/G ratio of 2.08 and a beta of 0.95.

Visa (NYSE:V) last issued its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. The firm had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period last year, the company earned $2.33 EPS. Analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Tuesday, November 12th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.76%. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date is Tuesday, November 12th. Visa’s payout ratio is presently 24.25%.

Wall Street Analysts Forecast Growth

V has been the topic of several research analyst reports. Jefferies Financial Group boosted their target price on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Compass Point initiated coverage on shares of Visa in a report on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective on the stock. Keefe, Bruyette & Woods raised shares of Visa from a “moderate buy” rating to a “strong-buy” rating in a report on Tuesday, September 24th. Royal Bank of Canada boosted their price target on Visa from $311.00 to $322.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, BMO Capital Markets raised their price objective on Visa from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Visa presently has a consensus rating of “Moderate Buy” and a consensus price target of $321.74.

About Visa

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.