Commerce Bank Cuts Visa Holdings Amid Institutional Investor Shifts
Commerce Bank recently disclosed that it had reduced its holdings in Visa Inc. by selling 10,889 shares during the second quarter.
The bank's total holding in Visa now stands at 684,312 shares, which represents a 1% stake in Commerce Bank's investment portfolio.
This is not an isolated instance of institutional investors modifying their stakes in V. XXEC Inc., for example, had increased its holdings by a staggering 153,118.8% in the second quarter and now owns a massive 186,260,448 shares valued at $63,904,097,000.
Visa's stock price opened at $371.09 on Friday, with an average rating of 'Buy' from analysts and a consensus price target of $413.58 per share.