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

Victory Capital (NASDAQ:VCTR) had its price target boosted by Bank of America from $58.00 to $59.00 in a research note released on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

VCTR has been the subject of a number of other research reports. Morgan Stanley raised their price objective on Victory Capital from $32.00 to $39.00 and gave the stock an underweight rating in a research report on Wednesday, May 15th. B. Riley raised their target price on Victory Capital from $48.00 to $57.00 and gave the stock a buy rating in a research report on Friday, April 19th. Royal Bank of Canada lifted 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. BMO Capital Markets restated an outperform rating and issued a $57.00 price objective (up previously from $55.00) on shares of Victory Capital in a research note on Monday, May 13th. Finally, UBS Group decreased their target price on shares of Victory Capital from $50.00 to $49.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $51.86.

Victory Capital Stock Performance

Shares of VCTR traded up $0.73 during trading hours on Monday, reaching $48.40. 8,861 shares of the company traded hands, compared to its average volume of 406,926. Victory Capital has a 1-year low of $28.66 and a 1-year high of $54.94. The stock has a market cap of $3.13 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 0.57 and a beta of 0.93. The stock’s fifty day moving average is $49.46 and its 200 day moving average is $45.65. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.71 and a current ratio of 0.71.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This is a boost from Victory Capital’s previous quarterly dividend of $0.37. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.39%. Victory Capital’s dividend payout ratio (DPR) is presently 45.40%.

Institutional Investors Weigh In On Victory Capital

Several large investors have recently made changes to their positions in the company. Arizona State Retirement System boosted its position in Victory Capital by 20.7% in the fourth quarter. Arizona State Retirement System now owns 9,193 shares of the company’s stock valued at $317,000 after buying an additional 1,575 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Victory Capital by 9.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,655 shares of the company’s stock worth $367,000 after acquiring an additional 922 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Victory Capital by 24.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,856 shares of the company’s stock worth $305,000 after acquiring an additional 1,756 shares during the last quarter. Federated Hermes Inc. increased its holdings in Victory Capital by 1.3% during the 4th quarter. Federated Hermes Inc. now owns 28,896 shares of the company’s stock valued at $995,000 after purchasing an additional 383 shares in the last quarter. Finally, New York State Common Retirement Fund raised its position in Victory Capital by 10.6% in the 4th quarter. New York State Common Retirement Fund now owns 100,441 shares of the company’s stock valued at $3,459,000 after purchasing an additional 9,661 shares during the last quarter. Institutional investors own 87.71% of the company’s stock.

Victory Capital Company Profile

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.