Bank of America Reaffirms Neutral Rating on Visa (NYSE:V)

Visa (NYSE:V – Get Free Report)Bank of America reissued a “neutral” rating on the stock in a report on Wednesday, Benzinga reports. They currently have a $297.00 price target on the credit card processor’s stock, down from the previous $305.00 price target. Bank of America’s price target indicates a potential upside of 11.89% from the stock’s previous close.

Several other equities analysts have also recently commented on V. Evercore ISI lowered their price target for Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25. Piper Sandler initiated coverage on Visa in a report on Monday, May 13. They issued an “overweight” rating and a $322.00 price target for the company. William Blair reaffirmed an “outperform” rating on shares of Visa in a report on Wednesday, April 24. Royal Bank of Canada increased their price target for Visa from $309.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, April 24. Finally, Robert W. Baird increased their price target for Visa from $314.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, April 17. Six analysts have rated the stock as a “hold,” while twenty-one have given it a “buy.” Visa currently has an average rating of “Moderate Buy” and a consensus price target of $304.44, according to data from MarketBeat.com.

See our latest report on V

Visa share results

Shares of V Company opened at $265.44 on Wednesday. The stock has a market capitalization of $485.47 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 1.82 and a beta of 0.95. The company has a 50-day simple moving average of $273.07 and a 200-day simple moving average of $274.01. The company has a current ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.53. Visa has a 52-week low of $227.68 and a 52-week high of $290.96.

Visa (NYSE:V – Get Free Report) last released its quarterly financial results on Tuesday, April 23. The credit card processor reported $2.51 earnings per share for the quarter, topping analysts’ consensus estimates of $2.43 by $0.08. The company had revenue of $8.78 billion for the quarter, compared to analysts’ expectations of $8.62 billion. Visa had a return on equity of 51.23% and a net margin of 53.87%. Visa’s quarterly revenue increased 9.9% compared to the same quarter last year. In the same quarter last year, the company reported $2.09 earnings per share. Equity analysts, on average, expect Visa to report $9.94 earnings per share for the current year.

Buying and selling confidential information

In related news, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction that occurred on Wednesday, May 15. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the sale, the insider now owns 17,894 shares of the company’s stock, valued at approximately $4,959,322.10. The transaction was disclosed in a filing with the SEC, which is available at this link . In other news, Director Lloyd Carney sold 909 shares of the company’s stock in a transaction on Friday, April 26. The shares were sold at an average price of $275.55, for a total transaction value of $250,474.95. Following the completion of the sale, the director now directly owns 2,591 shares of the company’s stock, valued at approximately $713,950.05. The transaction was disclosed in legal documents filed with the SEC, which are available at this link . Additionally, insider Paul D. Fabara sold 25,293 shares of the company’s stock in a transaction on Wednesday, May 15. The shares were sold at an average price of $277.15, for a total value of $7,009,954.95. Following the completion of the sale, the insider now owns 17,894 shares of the company’s stock, valued at $4,959,322.10. Disclosure regarding the sale can be found here . Insiders own 0.19% of the company’s stock.

Institutional visa trade

Several large investors recently modified their holdings in V. Livelsberger Financial Advisory bought a new position in Visa in the fourth quarter valued at approximately $25,000. Westend Capital Management LLC acquired a new position in Visa in the first quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new position in Visa in the fourth quarter valued at approximately $32,000. Frank Rimerman Advisors LLC acquired a new position in Visa in the fourth quarter valued at approximately $33,000. Finally, Valued Wealth Advisors LLC acquired a new position in Visa in the fourth quarter valued at approximately $37,000. 82.15% of the shares are currently held by institutional investors and hedge funds.

About the visa

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Visa Inc. operates as a payments technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables the authorization, settlement 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 multi-party business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS, which 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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