Zions Bancorporation N.A. Purchases 6,255 Shares of Visa Inc. (NYSE:V)

Zions Bancorporation N.A. increased its position in Visa Inc. (NYSE:V) by 17.4% in the third quarter, Holdings Channel.com reports. The fund owned 42,253 shares of the credit-card processor’s stock after acquiring an additional 6,255 shares during the quarter. Visa makes up about 0.8% of Zions Bancorporation N.A.’s holdings, making the stock its 14th biggest holding. Zions Bancorporation N.A.’s holdings in Visa were worth $11,617,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of V. POM Investment Strategies LLC lifted its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Reston Wealth Management LLC bought a new stake in Visa during the third quarter valued at approximately $31,000. TruNorth Capital Management LLC lifted its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Bbjs Financial Advisors LLC bought a new stake in Visa during the second quarter valued at approximately $35,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Visa during the second quarter valued at approximately $35,000. 82.15% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total transaction of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares of the company’s stock, valued at $148,687.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.19% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $309.51 on Thursday. Visa Inc. has a one year low of $245.34 and a one year high of $312.44. The company’s 50-day moving average is $285.84 and its 200 day moving average is $275.41. The company has a market capitalization of $564.02 billion, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.28.

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

Visa Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Susquehanna boosted their price objective on shares of Visa from $326.00 to $339.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Piper Sandler boosted their price objective on shares of Visa from $319.00 to $322.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of Visa from $320.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets lifted their target price on shares of Visa from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $321.00 price target (up from $318.00) on shares of Visa in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $321.74.

Visa 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.