Peoples Financial Services CORP. Reduces Position in Visa Inc. (NYSE:V)

by · The Cerbat Gem

Peoples Financial Services CORP. reduced its position in Visa Inc. (NYSE:V – Free Report) by 35.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,504 shares of the credit-card processor’s stock after selling 1,362 shares during the quarter. Peoples Financial Services CORP.’s holdings in Visa were worth $688,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in V. SG Americas Securities LLC increased its stake in Visa by 4,412.3% in the 3rd quarter. SG Americas Securities LLC now owns 4,072,467 shares of the credit-card processor’s stock worth $1,119,725,000 after buying an additional 4,166,905 shares during the period. National Bank of Canada FI grew its stake in Visa by 787.1% in the 1st quarter. National Bank of Canada FI now owns 4,619,881 shares of the credit-card processor’s stock worth $1,296,820,000 after acquiring an additional 4,099,122 shares in the last quarter. Swedbank AB purchased a new position in shares of Visa during the first quarter worth approximately $511,321,000. GQG Partners LLC raised its stake in shares of Visa by 40.1% during the first quarter. GQG Partners LLC now owns 5,990,634 shares of the credit-card processor’s stock valued at $1,671,866,000 after acquiring an additional 1,715,686 shares in the last quarter. Finally, Wulff Hansen & CO. boosted its holdings in shares of Visa by 26,951.9% in the second quarter. Wulff Hansen & CO. now owns 1,587,944 shares of the credit-card processor’s stock valued at $416,788,000 after purchasing an additional 1,582,074 shares during the period. Institutional investors own 82.15% of the company’s stock.

Visa Stock Performance

Shares of V stock opened at $287.51 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The business has a fifty day moving average of $275.69 and a 200 day moving average of $272.74. The firm has a market capitalization of $525.83 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.96. Visa Inc. has a 1 year low of $228.03 and a 1 year high of $293.07.

Visa (NYSE:V – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a return on equity of 51.94% and a net margin of 54.72%. The firm had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. During the same period last year, the business posted $2.16 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, research analysts expect that Visa Inc. will post 9.92 earnings per share for the current year.

Visa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s payout ratio is presently 23.24%.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on V shares. Evercore ISI decreased their target price on Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Bank of America upped their price objective on shares of Visa from $279.00 to $308.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 17th. Royal Bank of Canada cut their target price on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 24th. Piper Sandler lowered their price target on shares of Visa from $322.00 to $319.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $317.00 price objective on shares of Visa in a report on Thursday, September 12th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $313.81.

Check Out Our Latest Research Report on Visa

Visa Company Profile

(Free Report)

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.

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