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

Virtu Financial, Inc. (NASDAQ:VIRT) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, February 28th.

Virtu Financial has a payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Research 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 Performance

VIRT traded up $0.10 on Thursday, hitting $39.71. 611,840 shares of the company’s stock were exchanged, compared to its average volume of 836,876. 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 has a fifty day moving average of $36.69 and a two-hundred day moving average of $32.90. Virtu Financial has a twelve month low of $16.02 and a twelve month high of $40.44. The firm has a market cap of $6.14 billion, a PE ratio of 19.95, a P/E/G 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.32. Virtu Financial had a return on equity of 23.22% and a net margin of 7.29%. On average, research analysts anticipate that Virtu Financial will post 2.9 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Virtu Financial Company Profile

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.