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

Virtu Financial, Inc. (NASDAQ:VIRT) announced a quarterly dividend on Tuesday, November 26th,Zacks Dividends reports. Shareholders of record on Sunday, December 1st will be given a dividend of 0.24 per share by the financial services provider on Sunday, December 15th. This represents a $0.96 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, November 29th.

Virtu Financial has a payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Virtu Financial to earn $2.67 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 36.0%.

Virtu Financial Stock Performance

Shares of Virtu Financial stock opened at $36.71 on Wednesday. The business’s fifty day simple moving average is $32.80 and its 200-day simple moving average is $28.42. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 1.23. The firm has a market cap of $5.68 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 0.58 and a beta of 0.38. Virtu Financial has a 52 week low of $16.02 and a 52 week high of $38.09.

Virtu Financial (NASDAQ:VIRT) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The company had revenue of $388.00 million for the quarter, compared to analysts’ expectations of $379.18 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. Virtu Financial’s revenue for the quarter was up 30.2% compared to the same quarter last year. Equities analysts forecast that Virtu Financial will post 2.71 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on VIRT shares. Citigroup lifted their target price on shares of Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Bank of America cut 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. The Goldman Sachs Group raised their target price on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Morgan Stanley boosted their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Piper Sandler reissued an “overweight” rating and issued a $35.00 price objective on shares of Virtu Financial in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.50.

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.