M&T Bank Corp Has $87.96 Million Stock Holdings in Visa Inc. (NYSE:V)

M&T Bank Corp reduced its stake in Visa Inc. (NYSE:V) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 319,909 shares of the credit-card processor’s stock after selling 18,476 shares during the period. M&T Bank Corp’s holdings in Visa were worth $87,959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in V. State Street Corp lifted its position in shares of Visa by 4.5% during the 3rd quarter. State Street Corp now owns 76,610,942 shares of the credit-card processor’s stock worth $21,064,179,000 after buying an additional 3,327,977 shares in the last quarter. FMR LLC grew its stake in Visa by 6.1% in the 3rd quarter. FMR LLC now owns 57,111,843 shares of the credit-card processor’s stock valued at $15,702,901,000 after buying an additional 3,265,518 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Visa by 7.7% during the 3rd quarter. Geode Capital Management LLC now owns 38,655,250 shares of the credit-card processor’s stock valued at $10,601,135,000 after purchasing an additional 2,772,549 shares during the period. Ameriprise Financial Inc. increased its position in shares of Visa by 2.4% during the second quarter. Ameriprise Financial Inc. now owns 14,610,590 shares of the credit-card processor’s stock valued at $3,833,981,000 after buying an additional 345,829 shares during the period. Finally, Legal & General Group Plc lifted its stake in Visa by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 14,416,394 shares of the credit-card processor’s stock worth $3,783,857,000 after purchasing an additional 312,286 shares in the last quarter. 82.15% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on V shares. Bank of America lifted their price target on Visa from $279.00 to $308.00 and gave the company a “neutral” rating in a research report on Tuesday, September 17th. Monness Crespi & Hardt reaffirmed a “neutral” rating on shares of Visa in a research note on Tuesday, September 24th. Robert W. Baird upped their price target on shares of Visa from $330.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. TD Cowen lifted their price objective on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their price objective on Visa from $320.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $328.41.

Insider Activity

In other news, insider Paul D. Fabara sold 2,171 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $307.97, for a total transaction of $668,602.87. Following the transaction, the insider now owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Visa Stock Performance

Shares of V opened at $317.71 on Friday. The stock has a market cap of $591.85 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 2.11 and a beta of 0.96. Visa Inc. has a 52 week low of $252.70 and a 52 week high of $321.61. The business has a 50-day simple moving average of $303.21 and a two-hundred day simple moving average of $282.54. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.55.

Visa (NYSE:V) last released its quarterly earnings data on Tuesday, October 29th. The credit-card processor reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.13. Visa had a return on equity of 53.16% and a net margin of 54.96%. The firm had revenue of $9.62 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the prior year, the company posted $2.33 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, analysts expect that Visa Inc. will post 11.23 EPS for the current year.

Visa Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, November 12th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.74%. This is a boost from Visa’s previous quarterly dividend of $0.52. The ex-dividend date was Tuesday, November 12th. Visa’s payout ratio is 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.