Susquehanna Bancshares Lowers Visa (NYSE:V) Price Target to $260.00

Visa (NYSE:VGet Rating) had its target price cut by equities research analysts at Susquehanna Bancshares from $290.00 to $260.00 in a research note issued on Thursday, Stock Target Advisor reports. Susquehanna Bancshares’ price objective would indicate a potential upside of 23.80% from the company’s current price.

V has been the subject of a number of other reports. Cowen cut their price objective on shares of Visa from $276.00 to $254.00 in a research report on Wednesday, April 27th. Macquarie lowered their price objective on shares of Visa from $270.00 to $260.00 and set an “outperform” rating on the stock in a research report on Wednesday. BMO Capital Markets reissued a “maintains” rating on shares of Visa in a research note on Thursday. Citigroup reduced their target price on Visa from $270.00 to $254.00 in a research note on Tuesday. Finally, Truist Financial reduced their target price on Visa from $275.00 to $250.00 in a research note on Thursday, June 30th. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.19.

Visa Stock Performance

Shares of V traded down $0.45 during trading hours on Thursday, hitting $210.02. The company’s stock had a trading volume of 150,680 shares, compared to its average volume of 8,047,950. The company has a market cap of $399.31 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 1.84 and a beta of 0.90. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The business has a 50 day simple moving average of $204.37 and a two-hundred day simple moving average of $210.64. Visa has a 52-week low of $185.91 and a 52-week high of $251.50.

Visa (NYSE:VGet Rating) last posted its earnings results on Tuesday, April 26th. The credit-card processor reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.14. Visa had a net margin of 51.10% and a return on equity of 42.89%. The firm had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter last year, the company earned $1.38 earnings per share. The company’s revenue was up 25.5% on a year-over-year basis. On average, equities analysts expect that Visa will post 7.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Visa

In other Visa news, CEO Alfred F. Kelly, Jr. sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $195.37, for a total transaction of $1,758,330.00. Following the completion of the transaction, the chief executive officer now owns 159,887 shares of the company’s stock, valued at $31,237,123.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 27,000 shares of company stock valued at $5,619,330. Corporate insiders own 0.21% of the company’s stock.

Institutional Investors Weigh In On Visa

Institutional investors and hedge funds have recently made changes to their positions in the company. Trust Co. of Virginia VA lifted its holdings in Visa by 0.9% in the first quarter. Trust Co. of Virginia VA now owns 82,676 shares of the credit-card processor’s stock valued at $18,335,000 after acquiring an additional 768 shares during the period. Relyea Zuckerberg Hanson LLC lifted its holdings in Visa by 21.4% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 3,629 shares of the credit-card processor’s stock valued at $774,000 after acquiring an additional 640 shares during the period. Adams Chetwood Wealth Management LLC lifted its holdings in Visa by 13.2% in the first quarter. Adams Chetwood Wealth Management LLC now owns 4,334 shares of the credit-card processor’s stock valued at $961,000 after acquiring an additional 507 shares during the period. Newman Dignan & Sheerar Inc. lifted its holdings in Visa by 1.7% in the first quarter. Newman Dignan & Sheerar Inc. now owns 6,088 shares of the credit-card processor’s stock valued at $1,350,000 after acquiring an additional 100 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its holdings in Visa by 4.3% in the first quarter. Sugarloaf Wealth Management LLC now owns 13,155 shares of the credit-card processor’s stock valued at $2,938,000 after acquiring an additional 548 shares during the period. Institutional investors own 80.77% of the company’s stock.

About Visa

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Visa Inc operates as a payments technology company worldwide. The company facilitates digital payments among consumers, merchants, financial institutions, businesses, strategic partners, and government entities. It operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions.

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