M&T Bank Corp Decreases Stock Holdings in Visa Inc. (NYSE:V)

M&T Bank Corp lowered its stake in Visa Inc. (NYSE:V) by 5.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 319,909 shares of the credit-card processor’s stock after selling 18,476 shares during the quarter. M&T Bank Corp’s holdings in Visa were worth $87,959,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. Burke & Herbert Bank & Trust Co. raised its position in Visa by 314.4% in the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 3,672 shares of the credit-card processor’s stock worth $964,000 after buying an additional 2,786 shares during the last quarter. ORBA Wealth Advisors L.L.C. increased its position in shares of Visa by 36.2% during the 2nd quarter. ORBA Wealth Advisors L.L.C. now owns 2,338 shares of the credit-card processor’s stock valued at $614,000 after purchasing an additional 622 shares during the last quarter. Lodestone Wealth Management LLC increased its position in shares of Visa by 1.9% during the 2nd quarter. Lodestone Wealth Management LLC now owns 7,364 shares of the credit-card processor’s stock valued at $1,933,000 after purchasing an additional 137 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of Visa by 1.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 27,244 shares of the credit-card processor’s stock valued at $7,151,000 after purchasing an additional 297 shares during the last quarter. Finally, Falcon Wealth Planning increased its position in shares of Visa by 10.0% during the 2nd quarter. Falcon Wealth Planning now owns 1,318 shares of the credit-card processor’s stock valued at $346,000 after purchasing an additional 120 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $308.30 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The company has a market cap of $574.33 billion, a PE ratio of 31.69, a P/E/G ratio of 2.09 and a beta of 0.96. The business has a 50-day simple moving average of $296.38 and a two-hundred day simple moving average of $279.98. Visa Inc. has a fifty-two week low of $252.70 and a fifty-two week high of $317.42.

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

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, November 12th were issued a dividend of $0.59 per share. This is an increase from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.77%. Visa’s payout ratio is 24.25%.

Insider Buying and Selling

In related news, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at $5,510,815.18. The trade was a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on V shares. Citigroup upped their price target on shares of Visa from $319.00 to $326.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt reiterated a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Compass Point initiated coverage on Visa in a research note on Wednesday, September 4th. They set a “buy” rating and a $319.00 price objective for the company. TD Cowen boosted their price objective on Visa from $318.00 to $325.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley boosted their price objective on Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $323.41.

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.