Evertec, Inc. (NYSE:EVTC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Evertec, Inc. (NYSE:EVTC) have earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $35.80.

Several brokerages have weighed in on EVTC. Morgan Stanley lowered their price target on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 12th. Keefe, Bruyette & Woods lowered their target price on shares of Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Zacks Research upgraded Evertec from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Susquehanna decreased their price target on Evertec from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Evertec in a research note on Monday, December 29th.

Hedge Funds Weigh In On Evertec

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. USA Financial Formulas bought a new stake in Evertec in the 2nd quarter valued at $26,000. Richardson Financial Services Inc. grew its position in shares of Evertec by 132.6% during the third quarter. Richardson Financial Services Inc. now owns 763 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 435 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Evertec by 479.1% in the second quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock worth $49,000 after purchasing an additional 1,121 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Evertec in the third quarter worth about $52,000. Finally, Advisory Services Network LLC bought a new position in Evertec during the third quarter valued at approximately $59,000. Institutional investors own 96.80% of the company’s stock.

Evertec Stock Up 1.6%

EVTC stock opened at $29.89 on Thursday. The business’s 50-day moving average price is $29.21 and its 200-day moving average price is $32.14. The stock has a market cap of $1.91 billion, a P/E ratio of 13.29, a PEG ratio of 1.12 and a beta of 0.88. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 1.59. Evertec has a twelve month low of $26.72 and a twelve month high of $38.56.

Evertec Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Monday, November 3rd were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, November 3rd. Evertec’s dividend payout ratio (DPR) is 8.89%.

About Evertec

Evertec, Inc (NYSE: EVTC) is a leading full‐service transaction processor in Puerto Rico, Latin America and the Caribbean. The company delivers integrated technology solutions for electronic payments, providing financial institutions, merchants and governments with secure and scalable platforms to accept, process and settle transactions across card, ATM, debit and digital channels. Headquartered in San Juan, Puerto Rico, Evertec supports both domestic and cross‐border payment flows, enabling clients to streamline operations and expand their digital commerce capabilities.

Evertec’s suite of services includes merchant acquiring, payment gateway connectivity, ATM and point‐of‐sale network management, and fraud prevention solutions.