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

Virtu Financial, Inc. (NASDAQ:VIRT) announced a quarterly dividend on Wednesday, November 27th,Zacks Dividends reports. Investors of record on Sunday, December 1st will be paid 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 2.57%. The ex-dividend date of this dividend is Friday, November 29th.

Virtu Financial has a payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. 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 $37.34 on Thursday. The company has a market capitalization of $5.77 billion, a PE ratio of 18.76, a PEG ratio of 0.58 and a beta of 0.38. Virtu Financial has a 12 month low of $16.02 and a 12 month high of $38.45. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23. The stock’s fifty day simple moving average is $32.89 and its 200 day simple moving average is $28.52.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, topping the consensus estimate of $0.79 by $0.03. The business had revenue of $388.00 million for the quarter, compared to the consensus estimate of $379.18 million. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. The firm’s revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. On average, research analysts predict that Virtu Financial will post 2.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Virtu Financial in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their price target on Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Bank of America dropped their price target on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday, October 3rd. Morgan Stanley lifted their price target on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Citigroup lifted their price target on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Virtu Financial has an average rating of “Hold” and an average target price 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.