EVERTEC, Inc. Announces Quarterly Dividend of $0.05 (NYSE:EVTC)

EVERTEC, Inc. (NYSE:EVTC) announced a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Stockholders of record on Monday, April 29th will be given a dividend of 0.05 per share by the business services provider on Friday, June 7th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Friday, April 26th.

EVERTEC Stock Performance

NYSE EVTC opened at $37.79 on Friday. EVERTEC has a 1 year low of $31.55 and a 1 year high of $42.21. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 31.23, a PEG ratio of 2.19 and a beta of 1.20. The company has a fifty day moving average price of $38.78 and a 200-day moving average price of $38.15.

EVERTEC (NYSE:EVTC) last posted its earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.06). The firm had revenue of $194.62 million during the quarter, compared to the consensus estimate of $179.86 million. EVERTEC had a return on equity of 29.73% and a net margin of 11.48%. As a group, equities research analysts predict that EVERTEC will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EVTC shares. StockNews.com lowered shares of EVERTEC from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Morgan Stanley increased their price target on shares of EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $41.33.

Insiders Place Their Bets

In other EVERTEC news, CEO Morgan M. Schuessler sold 100,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the completion of the transaction, the chief executive officer now owns 347,941 shares in the company, valued at $12,939,925.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other EVERTEC news, CEO Morgan M. Schuessler sold 100,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the completion of the transaction, the chief executive officer now owns 347,941 shares in the company, valued at $12,939,925.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank G. D’angelo sold 16,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.43, for a total transaction of $598,880.00. Following the transaction, the director now owns 10,380 shares of the company’s stock, valued at approximately $388,523.40. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On EVERTEC

Institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in shares of EVERTEC by 274.8% in the first quarter. Tower Research Capital LLC TRC now owns 1,132 shares of the business services provider’s stock worth $38,000 after buying an additional 830 shares in the last quarter. FMR LLC lifted its holdings in shares of EVERTEC by 36.1% in the first quarter. FMR LLC now owns 1,838 shares of the business services provider’s stock worth $62,000 after buying an additional 488 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of EVERTEC in the first quarter worth about $154,000. Point72 Hong Kong Ltd purchased a new stake in shares of EVERTEC in the second quarter worth about $170,000. Finally, State of Wyoming lifted its holdings in shares of EVERTEC by 66.7% in the second quarter. State of Wyoming now owns 5,604 shares of the business services provider’s stock worth $206,000 after buying an additional 2,242 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

About EVERTEC

EVERTEC, Inc engages in transaction processing business and financial technology in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean; Latin America Payments and Solutions; Merchant Acquiring; and Business Solutions. It provides merchant acquiring services, which enable point of sales and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.