Wesbanco Bank Inc. Cuts Stock Holdings in Victory Capital Holdings, Inc. $VCTR

Wesbanco Bank Inc. reduced its stake in Victory Capital Holdings, Inc. (NASDAQ:VCTR) by 25.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,462 shares of the company’s stock after selling 7,500 shares during the period. Wesbanco Bank Inc.’s holdings in Victory Capital were worth $1,405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VCTR. Caitong International Asset Management Co. Ltd grew its stake in Victory Capital by 19,350.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 389 shares of the company’s stock worth $25,000 after purchasing an additional 387 shares in the last quarter. Core Wealth Advisors LLC acquired a new stake in Victory Capital in the 4th quarter valued at about $30,000. Covestor Ltd raised its position in Victory Capital by 99.7% in the 4th quarter. Covestor Ltd now owns 669 shares of the company’s stock valued at $42,000 after purchasing an additional 334 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Victory Capital by 48.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 753 shares of the company’s stock valued at $48,000 after buying an additional 246 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of Victory Capital by 146.4% in the 4th quarter. GAMMA Investing LLC now owns 860 shares of the company’s stock valued at $54,000 after buying an additional 511 shares during the period. 87.71% of the stock is currently owned by hedge funds and other institutional investors.

Victory Capital Trading Up 1.6%

VCTR opened at $83.43 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.13 and a current ratio of 1.13. Victory Capital Holdings, Inc. has a one year low of $57.03 and a one year high of $90.19. The company has a market cap of $5.22 billion, a P/E ratio of 18.79, a PEG ratio of 0.89 and a beta of 1.10. The business’s 50-day simple moving average is $83.39 and its 200-day simple moving average is $73.47.

Victory Capital (NASDAQ:VCTR) last posted its earnings results on Wednesday, May 6th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.19. The firm had revenue of $387.99 million during the quarter, compared to analysts’ expectations of $364.97 million. Victory Capital had a return on equity of 22.15% and a net margin of 25.79%.The firm’s revenue was up 76.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 earnings per share. As a group, equities research analysts expect that Victory Capital Holdings, Inc. will post 7.09 EPS for the current fiscal year.

Victory Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.4%. This is a boost from Victory Capital’s previous quarterly dividend of $0.49. Victory Capital’s payout ratio is presently 45.05%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on VCTR shares. Weiss Ratings restated a “buy (b)” rating on shares of Victory Capital in a research note on Monday, April 20th. Wall Street Zen upgraded shares of Victory Capital from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. The Goldman Sachs Group started coverage on shares of Victory Capital in a report on Tuesday, June 2nd. They set a “neutral” rating and a $90.00 price target for the company. Barclays increased their price objective on shares of Victory Capital from $74.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 price objective on shares of Victory Capital in a report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $86.00.

About Victory Capital

Victory Capital (NASDAQ:VCTR) is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.