Fifth Third Bancorp Buys 1,553 Shares of Visa Inc. (NYSE:V)

Fifth Third Bancorp increased its stake in Visa Inc. (NYSE:V) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 413,442 shares of the credit-card processor’s stock after purchasing an additional 1,553 shares during the period. Fifth Third Bancorp’s holdings in Visa were worth $144,895,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Visa during the 4th quarter valued at $27,000. POM Investment Strategies LLC raised its position in shares of Visa by 48.5% during the 4th quarter. POM Investment Strategies LLC now owns 98 shares of the credit-card processor’s stock valued at $31,000 after acquiring an additional 32 shares during the last quarter. Compass Planning Associates Inc bought a new stake in shares of Visa during the 4th quarter valued at $32,000. NewSquare Capital LLC bought a new stake in shares of Visa during the 4th quarter valued at $35,000. Finally, FPC Investment Advisory Inc. raised its position in shares of Visa by 377.3% during the 4th quarter. FPC Investment Advisory Inc. now owns 105 shares of the credit-card processor’s stock valued at $36,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Insider Activity

In related news, General Counsel Julie B. Rottenberg sold 2,575 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $345.58, for a total value of $889,868.50. Following the completion of the sale, the general counsel now directly owns 11,925 shares in the company, valued at approximately $4,121,041.50. This trade represents a 17.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the sale, the chief executive officer now owns 537 shares of the company’s stock, valued at $188,186.28. This trade represents a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock worth $58,645,479 in the last quarter. Corporate insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

V has been the subject of several recent research reports. UBS Group upped their target price on shares of Visa from $395.00 to $405.00 and gave the company a “buy” rating in a research report on Wednesday, May 28th. William Blair restated an “outperform” rating on shares of Visa in a research report on Wednesday, April 30th. Evercore ISI started coverage on shares of Visa in a research report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 price objective for the company. Mizuho upgraded shares of Visa from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $359.00 to $425.00 in a research report on Thursday, June 5th. Finally, Citigroup started coverage on shares of Visa in a research report on Monday, June 2nd. They issued a “buy” rating for the company. Five analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Visa has a consensus rating of “Moderate Buy” and a consensus target price of $372.80.

Visa Stock Performance

Shares of Visa stock opened at $373.19 on Thursday. The firm has a market cap of $688.59 billion, a price-to-earnings ratio of 37.62, a price-to-earnings-growth ratio of 2.33 and a beta of 0.94. The stock’s 50-day moving average is $347.68 and its 200-day moving average is $336.77. Visa Inc. has a one year low of $252.70 and a one year high of $375.51. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.12 and a quick ratio of 1.12.

Visa (NYSE:V) last announced its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to analysts’ expectations of $9.57 billion. Visa had a return on equity of 54.79% and a net margin of 54.27%. Visa’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.51 EPS. Equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Tuesday, May 13th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s payout ratio is 23.72%.

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.