Bank of Hawaii Cuts Stake in Visa Inc. (NYSE:V)

Bank of Hawaii cut its stake in Visa Inc. (NYSE:V) by 1.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 38,295 shares of the credit-card processor’s stock after selling 389 shares during the quarter. Visa comprises approximately 0.4% of Bank of Hawaii’s portfolio, making the stock its 29th biggest holding. Bank of Hawaii’s holdings in Visa were worth $10,529,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Peterson Financial Group Inc. acquired a new stake in shares of Visa in the third quarter valued at about $26,000. POM Investment Strategies LLC grew its stake in Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after acquiring an additional 97 shares in the last quarter. Reston Wealth Management LLC acquired a new stake in Visa in the 3rd quarter valued at about $31,000. TruNorth Capital Management LLC lifted its stake in Visa by 211.9% in the 2nd quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares in the last quarter. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Visa by 52.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 133 shares of the credit-card processor’s stock worth $37,000 after purchasing an additional 46 shares during the last quarter. 82.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays lifted their price objective on Visa from $319.00 to $347.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Mizuho boosted their price target on shares of Visa from $279.00 to $292.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Jefferies Financial Group upped their price objective on shares of Visa from $320.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com raised shares of Visa from a “hold” rating to a “buy” rating in a research note on Friday, August 9th. Finally, Bank of America increased their price target on shares of Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Four research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Visa Price Performance

Shares of V opened at $309.92 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average is $289.52 and its two-hundred day moving average is $277.34. Visa Inc. has a twelve month low of $251.61 and a twelve month high of $312.44. The firm has a market capitalization of $577.34 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 posted its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the firm earned $2.33 EPS. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. Research analysts anticipate that Visa Inc. will post 11.19 earnings per share for the current 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 paid a dividend of $0.59 per share. The ex-dividend date is Tuesday, November 12th. This is a boost from Visa’s previous quarterly dividend of $0.52. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.76%. Visa’s dividend payout ratio is 24.25%.

Insider Activity

In other 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 transaction 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 $148,687.06. The trade was a 94.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul D. Fabara sold 2,171 shares of the business’s 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 in the company, 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. Insiders own 0.19% 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.