Bank of America Corp DE Grows Position in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Bank of America Corp DE boosted its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 46.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,438,413 shares of the company’s stock after purchasing an additional 458,534 shares during the quarter. Bank of America Corp DE’s holdings in Victory Capital were worth $94,159,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of VCTR. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in Victory Capital in the fourth quarter valued at approximately $17,755,000. TimesSquare Capital Management LLC grew its stake in Victory Capital by 20.5% during the fourth quarter. TimesSquare Capital Management LLC now owns 976,161 shares of the company’s stock worth $63,899,000 after buying an additional 166,265 shares during the period. Bahl & Gaynor Inc. grew its stake in Victory Capital by 10.9% during the fourth quarter. Bahl & Gaynor Inc. now owns 1,557,425 shares of the company’s stock worth $101,949,000 after buying an additional 153,459 shares during the period. Annex Advisory Services LLC grew its stake in Victory Capital by 599.7% during the fourth quarter. Annex Advisory Services LLC now owns 173,562 shares of the company’s stock worth $11,361,000 after buying an additional 148,756 shares during the period. Finally, Royce & Associates LP grew its stake in Victory Capital by 99.1% during the fourth quarter. Royce & Associates LP now owns 278,683 shares of the company’s stock worth $18,243,000 after buying an additional 138,700 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on VCTR shares. BMO Capital Markets boosted their price objective on shares of Victory Capital from $73.00 to $82.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Bank of America reduced their target price on shares of Victory Capital from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. UBS Group reduced their target price on shares of Victory Capital from $71.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Barclays reduced their target price on shares of Victory Capital from $75.00 to $59.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Victory Capital from $69.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $69.33.

Victory Capital Trading Down 1.5%

VCTR opened at $59.14 on Monday. The stock has a market capitalization of $3.76 billion, a PE ratio of 13.53, a P/E/G ratio of 0.55 and a beta of 1.05. The firm’s fifty day moving average price is $57.57 and its 200 day moving average price is $62.69. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.19 and a quick ratio of 1.19. Victory Capital Holdings, Inc. has a 12-month low of $43.82 and a 12-month high of $73.42.

Victory Capital (NASDAQ:VCTR) last posted its quarterly earnings results on Thursday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.02). The company had revenue of $219.60 million during the quarter, compared to analyst estimates of $226.38 million. Victory Capital had a net margin of 32.33% and a return on equity of 31.08%. The company’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.25 earnings per share. As a group, research analysts expect that Victory Capital Holdings, Inc. will post 6.16 EPS for the current fiscal year.

Victory Capital Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.31%. This is a boost from Victory Capital’s previous quarterly dividend of $0.47. The ex-dividend date is Tuesday, June 10th. Victory Capital’s dividend payout ratio is 43.02%.

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.