Virtu Financial, Inc. (VIRT) to Issue Quarterly Dividend of $0.24 on December 15th

Virtu Financial, Inc. (NASDAQ:VIRT) declared a quarterly dividend on Tuesday, November 26th,Zacks Dividends reports. Investors 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 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Friday, November 29th.

Virtu Financial has a dividend payout ratio of 31.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 0.2 %

Shares of VIRT opened at $36.71 on Wednesday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.47 and a quick ratio of 0.47. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 0.58 and a beta of 0.38. The company has a 50-day moving average of $32.80 and a 200 day moving average of $28.42. Virtu Financial has a 1-year low of $16.02 and a 1-year high of $38.09.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $379.18 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 30.2% compared to the same quarter last year. On average, research analysts expect that Virtu Financial will post 2.71 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have issued reports on VIRT. Piper Sandler reaffirmed an “overweight” rating and issued a $35.00 price target on shares of Virtu Financial in a report on Thursday, October 24th. Citigroup upped their price objective 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. Morgan Stanley boosted their target price on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price target on shares of Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Finally, Bank of America dropped their price objective on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Virtu Financial has a consensus rating of “Hold” and an average target price of $29.50.

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.