Bank of Hawaii Sells 389 Shares of Visa Inc. (NYSE:V)

Bank of Hawaii decreased its holdings in Visa Inc. (NYSE:V) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,295 shares of the credit-card processor’s stock after selling 389 shares during the period. Visa comprises approximately 0.4% of Bank of Hawaii’s holdings, making the stock its 29th largest holding. Bank of Hawaii’s holdings in Visa were worth $10,529,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Peterson Financial Group Inc. purchased a new position in Visa during the 3rd quarter worth $26,000. POM Investment Strategies LLC grew its position in shares of Visa by 970.0% during the 2nd quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Reston Wealth Management LLC purchased a new position in shares of Visa during the third quarter valued at $31,000. TruNorth Capital Management LLC raised its holdings in shares of Visa by 211.9% in the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after acquiring an additional 89 shares in the last quarter. Finally, Bbjs Financial Advisors LLC purchased a new stake in Visa in the second quarter worth about $35,000. 82.15% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on V. Morgan Stanley raised their target price on shares of Visa from $322.00 to $326.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. BNP Paribas raised shares of Visa from a “neutral” rating to an “outperform” rating and set a $325.00 price objective on the stock in a report on Tuesday, September 3rd. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Macquarie increased their target price on Visa from $300.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, StockNews.com raised Visa from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Visa has a consensus rating of “Moderate Buy” and an average target price of $321.74.

Insider Activity

In other news, insider Paul D. Fabara sold 2,171 shares of the firm’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 sale, the insider now directly owns 17,894 shares in the company, valued at $5,510,815.18. This trade represents a 10.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Mcinerney sold 8,620 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was 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 directly owns 538 shares of the company’s stock, valued at $148,687.06. The trade was a 94.13 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Visa Price Performance

Shares of NYSE V opened at $309.92 on Monday. Visa Inc. has a 52 week low of $251.61 and a 52 week high of $312.44. The business’s 50 day moving average price is $289.52 and its 200 day moving average price is $277.34. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55. The firm has a market cap of $577.34 billion, a P/E ratio of 31.85, a P/E/G ratio of 2.08 and a beta of 0.95.

Visa (NYSE:V) last released its quarterly earnings data 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 net margin of 54.96% and a return on equity of 53.16%. The business had revenue of $9.62 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the firm earned $2.33 EPS. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, sell-side analysts expect that Visa Inc. will post 11.19 earnings per share for the current year.

Visa Increases Dividend

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

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.