Virtu Financial, Inc. (NASDAQ:VIRT) Announces $0.24 Quarterly Dividend

Virtu Financial, Inc. (NASDAQ:VIRT) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Friday, February 28th will be given a dividend of 0.24 per share by the financial services provider on Monday, March 17th. This represents a $0.96 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Friday, February 28th.

Virtu Financial has a dividend payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Virtu Financial to earn $2.86 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 33.6%.

Virtu Financial Stock Up 0.2 %

Shares of NASDAQ VIRT traded up $0.10 during mid-day trading on Thursday, reaching $39.71. The company had a trading volume of 611,840 shares, compared to its average volume of 836,876. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 0.47. Virtu Financial has a twelve month low of $16.02 and a twelve month high of $40.44. The stock’s 50 day moving average is $36.69 and its 200-day moving average is $32.90. The stock has a market capitalization of $6.14 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 0.49 and a beta of 0.45.

Virtu Financial (NASDAQ:VIRT) last announced its quarterly earnings results on Wednesday, January 29th. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $0.77 by $0.32. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. As a group, equities analysts anticipate that Virtu Financial will post 2.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

VIRT has been the topic of a number of recent research reports. Morgan Stanley raised their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Bank of America lowered their price objective on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Citigroup increased their price target on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Piper Sandler raised their target price on shares of Virtu Financial from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.21.

About Virtu Financial

Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.