Bank of New York Mellon Corp raised its position in Evertec Inc (NYSE:EVTC) by 3.0% during the second quarter, HoldingsChannel.com reports. The firm owned 758,185 shares of the business services provider’s stock after buying an additional 21,923 shares during the quarter. Bank of New York Mellon Corp’s holdings in Evertec were worth $16,567,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in EVTC. Amalgamated Bank acquired a new stake in shares of Evertec in the second quarter valued at about $213,000. Vident Investment Advisory LLC acquired a new stake in shares of Evertec in the second quarter valued at about $230,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Evertec in the second quarter valued at about $279,000. Krane Funds Advisors LLC grew its stake in shares of Evertec by 101.4% in the second quarter. Krane Funds Advisors LLC now owns 16,401 shares of the business services provider’s stock valued at $358,000 after buying an additional 8,257 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in shares of Evertec in the second quarter valued at about $425,000. Institutional investors own 79.64% of the company’s stock.
In other Evertec news, insider Miguel Vizcarrondo sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $24.31, for a total transaction of $486,200.00. Following the completion of the sale, the insider now owns 195,887 shares in the company, valued at approximately $4,762,012.97. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Diana I. Rivera-Ramirez sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $23.55, for a total value of $35,325.00. Following the sale, the insider now owns 24,915 shares of the company’s stock, valued at approximately $586,748.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 63,500 shares of company stock valued at $1,516,085. 0.76% of the stock is owned by insiders.
Evertec (NYSE:EVTC) last posted its earnings results on Tuesday, October 30th. The business services provider reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. Evertec had a return on equity of 62.09% and a net margin of 16.52%. The business had revenue of $112.02 million during the quarter, compared to analyst estimates of $108.94 million. During the same quarter last year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts predict that Evertec Inc will post 1.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 5th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 0.72%. Evertec’s dividend payout ratio (DPR) is presently 13.61%.
A number of equities research analysts have recently issued reports on EVTC shares. Zacks Investment Research upgraded Evertec from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Friday, November 2nd. Raymond James increased their target price on Evertec from $28.00 to $33.00 and gave the company an “outperform” rating in a research note on Monday, November 12th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $23.29.
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Evertec Company Profile
EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.
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