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

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 is Friday, February 28th.

Virtu Financial has a dividend payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Virtu Financial to earn $2.91 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 33.0%.

Virtu Financial Stock Up 0.2 %

NASDAQ VIRT opened at $39.67 on Friday. The stock has a 50 day moving average price of $36.73 and a 200-day moving average price of $32.95. Virtu Financial has a one year low of $16.02 and a one year high of $40.44. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 0.47. The company has a market capitalization of $6.13 billion, a P/E ratio of 13.36, a P/E/G ratio of 0.52 and a beta of 0.45.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data 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 net margin of 9.61% and a return on equity of 27.69%. As a group, equities analysts predict that Virtu Financial will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

VIRT has been the topic of several analyst reports. Bank of America reduced their price objective 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 boosted their target price on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Piper Sandler raised their price target on Virtu Financial from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Citigroup boosted 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. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Virtu Financial has a consensus rating of “Hold” and an average price target 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.