|Bid||0.00 x 1800|
|Ask||0.00 x 1000|
|Day's Range||27.66 - 28.08|
|52 Week Range||23.10 - 30.33|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.14%|
While Visa’s (V) NTM (next-12-month) price-to-book ratio is 7.4x, competitors’ average is 8.0x. Peers Mastercard (MA), Discover Financial Services (DFS), and Ally Financial (ALLY) have NTM price-to-book ratios of 21.0x, 2.3x, and 0.81x, respectively.
Visa (V) is expected to post EPS (earnings per share) of $1.11 in the third fiscal quarter (ending in June), boosted by strong business fundamentals. As we’ve discussed, the performance of payment technology companies (XLF) such as Discover Financial Services (DFS), Mastercard (MA), and American Express (AXP) is affected by the overall economy and client spending.
As we’ve discussed, payment technology companies such as Visa (V), Mastercard (MA), American Express (AXP), and Discover Financial Services (DFS) benefit primarily from increased spending, which rises with economic growth. As US consumer spending is expected to rise, Visa could be due to benefit.
Previously, we discussed billionaire investor David Tepper’s largest holdings and top buys and sells in the first quarter. In this part, we’ll look at Tepper’s top investment sectors based on his Appaloosa Management holdings.
T. Rowe Price Group (TROW) generates net revenues from investment advisory fees and administrative, distribution, and servicing fees. TROW generated total investment advisory fees of ~$1.2 billion in the first quarter compared to $992.7 million in the first quarter of 2017, reflecting a YoY (year-over-year) rise of 19.8%. Of the total investment advisory fees in the first quarter, US mutual funds contributed $832.9 million while other investment products made a contribution of $356.3 million.
Bank stocks and financial sector exchange traded funds may continue to strengthen as strong fundamentals help support this market segment’s outlook. Year-to-date, the Financial Select Sector SPDR (NYSEArca: ...
At the J.P. Morgan Global Technology, Media and Communications Conference, Visa (V) shared positive views on its European integration, which it stated has been proceeding rapidly. The company has also been focusing on its push payment facility, Visa Direct. Visa’s payment volume rose substantially YoY (year-over-year) in fiscal Q2 2018, by 11% on a constant-dollar basis, which could boost its service revenue in fiscal Q3 2018.
At the J.P. Morgan Global Technology, Media and Communications Conference, Visa (V) stated it would be targeting the US market’s significant untapped opportunities, which could boost growth. By targeting small merchants and increasing its merchant base, the company could see long-term growth.
The financial sector followed the broader market lower on Wednesday, May 23, a day after Congress passed a plan that aims to roll back post-crisis bank regulations by weakening the 2010 Dodd-Frank Act. Members of the House of Representatives voted 258 to 159 in support of the bill, which has been called the Crapo bill after its biggest proponent, Sen. Mike Crapo (R. Idaho), in a quiet session on Tuesday.
The financial sector suffered a dip earlier this year along with most of the market when volatility and uncertainty seemed to dominate headlines. Over the past few years, the financial sector has proven to be one of the most resilient sectors to pullbacks, and recent price action is suggesting that the trend is about to resume its upward trajectory. As discussed above, the financial sector suffered a sharp pullback earlier this year, which is evident on the chart of the Financial Select Sector SPDR Fund.
Asian Shares Down Overnight, Futures Fall In a hint that yesterday’s end-of-day selloff would continue at the open today, Japanese shares were down over 1% along with most Asian indexes. A few hours later, US stocks futures took a dive. The level to watch on the S&P 500 (^GSPC) today is 2,675, the current 50 […] The post Market Morning Roundup – Futures Down, Facebook Wants Your SSN, Fed Minutes, Weed-Killing Robots appeared first on Market Exclusive.
Only three new banks were chartered in the quarterMarketWatch/The fewest problem banks since 2008 is a low bar - but the fewest unprofitable banks since 1996 is more impressive. Banks got a big boost to their bottom lines from the tax changes passed late last year, according to a report out Tuesday. Net income increased 27.5% in the first quarter of 2018 compared to last year, the Federal Deposit Insurance Corp. said in its quarterly update on the state of the industry.
Chris Verrone, Strategas Research Partners, makes his case for investors to keep buying the banks. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Karen Finerman, David Seaburg and Guy Adami.