Wesbanco Bank Inc. Invests $1.23 Million in Victory Capital Holdings, Inc. (NASDAQ:VCTR)

Wesbanco Bank Inc. bought a new position in shares of Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 28,962 shares of the company's stock, valued at approximately $1,229,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Federated Hermes Inc. raised its position in Victory Capital by 1.3% in the fourth quarter. Federated Hermes Inc. now owns 28,896 shares of the company's stock valued at $995,000 after purchasing an additional 383 shares during the period. Olympiad Research LP raised its holdings in shares of Victory Capital by 6.0% during the 3rd quarter. Olympiad Research LP now owns 6,910 shares of the company's stock valued at $230,000 after buying an additional 394 shares during the period. Amalgamated Bank lifted its position in Victory Capital by 13.5% during the 3rd quarter. Amalgamated Bank now owns 4,063 shares of the company's stock worth $135,000 after acquiring an additional 482 shares in the last quarter. Blue Trust Inc. boosted its holdings in Victory Capital by 93.5% in the 4th quarter. Blue Trust Inc. now owns 1,246 shares of the company's stock worth $41,000 after acquiring an additional 602 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Victory Capital by 9.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,733 shares of the company's stock valued at $324,000 after purchasing an additional 844 shares during the period. Institutional investors and hedge funds own 87.71% of the company's stock.

Victory Capital Stock Up 1.6 %

NASDAQ:VCTR traded up $0.80 during mid-day trading on Friday, reaching $52.19. The stock had a trading volume of 491,927 shares, compared to its average volume of 573,337. The stock's 50 day simple moving average is $43.32 and its two-hundred day simple moving average is $36.79. Victory Capital Holdings, Inc. has a 1-year low of $27.73 and a 1-year high of $52.76. The company has a market capitalization of $3.36 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 0.46 and a beta of 0.92. The company has a debt-to-equity ratio of 0.94, a current ratio of 0.66 and a quick ratio of 0.66.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its earnings results on Friday, February 9th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.11 by $0.02. Victory Capital had a return on equity of 28.70% and a net margin of 25.96%. The company had revenue of $205.80 million during the quarter, compared to analyst estimates of $204.20 million. During the same quarter last year, the firm earned $1.03 EPS. The business's revenue was down 1.9% on a year-over-year basis. Equities analysts anticipate that Victory Capital Holdings, Inc. will post 5.14 EPS for the current year.

Victory Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a dividend of $0.335 per share. This represents a $1.34 dividend on an annualized basis and a dividend yield of 2.57%. This is a boost from Victory Capital's previous quarterly dividend of $0.32. The ex-dividend date was Friday, March 8th. Victory Capital's dividend payout ratio is 42.81%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on VCTR shares. UBS Group upped their target price on shares of Victory Capital from $37.00 to $48.00 and gave the company a "neutral" rating in a research note on Monday, April 22nd. Morgan Stanley raised their target price on Victory Capital from $30.00 to $32.00 and gave the company an "underweight" rating in a research note on Wednesday, April 17th. Royal Bank of Canada boosted their price target on Victory Capital from $40.00 to $43.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 13th. B. Riley raised their price objective on Victory Capital from $48.00 to $57.00 and gave the company a "buy" rating in a research note on Friday, April 19th. Finally, BMO Capital Markets upped their target price on Victory Capital from $53.00 to $55.00 and gave the company an "outperform" rating in a research report on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $46.67.

Victory Capital 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.

Want to see what other hedge funds are holding VCTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Victory Capital Holdings, Inc. (NASDAQ:VCTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.