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

EVERTEC, Inc. (NYSE:EVTC) announced a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Shareholders of record on Monday, April 29th will be paid a dividend of 0.05 per share by the business services provider on Friday, June 7th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Friday, April 26th.

EVERTEC Stock Up 1.6 %

EVTC stock traded up $0.60 during trading on Friday, reaching $37.79. The stock had a trading volume of 255,009 shares, compared to its average volume of 319,591. EVERTEC has a one year low of $31.55 and a one year high of $42.21. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.58. The company’s 50 day moving average is $38.85 and its two-hundred day moving average is $38.15. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 30.72, a P/E/G ratio of 2.18 and a beta of 1.20.

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

Insider Buying and Selling

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

Institutional Trading of EVERTEC

Several institutional investors and hedge funds have recently bought and sold shares of the company. MML Investors Services LLC raised its position in shares of EVERTEC by 2.3% during the 1st quarter. MML Investors Services LLC now owns 19,041 shares of the business services provider’s stock valued at $643,000 after buying an additional 430 shares in the last quarter. Vident Investment Advisory LLC raised its position in shares of EVERTEC by 4.6% during the 1st quarter. Vident Investment Advisory LLC now owns 10,040 shares of the business services provider’s stock valued at $411,000 after buying an additional 444 shares in the last quarter. FMR LLC raised its position in shares of EVERTEC by 36.1% during the 1st quarter. FMR LLC now owns 1,838 shares of the business services provider’s stock valued at $62,000 after buying an additional 488 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of EVERTEC by 2.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 23,068 shares of the business services provider’s stock valued at $747,000 after buying an additional 545 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of EVERTEC by 274.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,132 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 830 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com downgraded shares of EVERTEC from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Morgan Stanley increased their target price 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 given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, EVERTEC presently has a consensus rating of “Hold” and an average price target of $41.33.

EVERTEC Company Profile

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.