Bank of America Increases Victory Capital (NASDAQ:VCTR) Price Target to $59.00

Victory Capital (NASDAQ:VCTR) had its price objective raised by Bank of America from $58.00 to $59.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a buy rating on the stock.

VCTR has been the subject of a number of other research reports. B. Riley increased their price target on shares of Victory Capital from $48.00 to $57.00 and gave the stock a buy rating in a research note on Friday, April 19th. BMO Capital Markets reiterated an outperform rating and set a $57.00 price target (up previously from $55.00) on shares of Victory Capital in a research note on Monday, May 13th. Royal Bank of Canada increased their price target on shares of Victory Capital from $47.00 to $56.00 and gave the stock an outperform rating in a research note on Tuesday, May 14th. Morgan Stanley increased their price target on shares of Victory Capital from $32.00 to $39.00 and gave the stock an underweight rating in a research note on Wednesday, May 15th. Finally, UBS Group cut their price objective on shares of Victory Capital from $50.00 to $49.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $52.63.

Victory Capital Trading Up 4.1 %

Shares of Victory Capital stock opened at $51.47 on Monday. The company has a fifty day simple moving average of $49.41 and a 200-day simple moving average of $45.78. Victory Capital has a 12-month low of $28.66 and a 12-month high of $54.94. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.92. The stock has a market cap of $3.33 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 0.57 and a beta of 0.93.

Victory Capital Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Tuesday, September 10th. This is an increase from Victory Capital’s previous quarterly dividend of $0.37. Victory Capital’s dividend payout ratio (DPR) is currently 45.40%.

Hedge Funds Weigh In On Victory Capital

Large investors have recently made changes to their positions in the stock. CWM LLC increased its holdings in shares of Victory Capital by 486.2% in the 2nd quarter. CWM LLC now owns 680 shares of the company’s stock valued at $32,000 after purchasing an additional 564 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Victory Capital by 50.7% in the 2nd quarter. Amalgamated Bank now owns 1,423 shares of the company’s stock valued at $68,000 after purchasing an additional 479 shares in the last quarter. nVerses Capital LLC increased its holdings in shares of Victory Capital by 200.0% in the 2nd quarter. nVerses Capital LLC now owns 2,700 shares of the company’s stock valued at $129,000 after purchasing an additional 1,800 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Victory Capital in the 2nd quarter valued at about $156,000. Finally, Rothschild Investment LLC purchased a new position in shares of Victory Capital in the 2nd quarter valued at about $202,000. Hedge funds and other institutional investors own 87.71% of the company’s stock.

About Victory Capital

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.