EVERTEC, Inc. (EVTC) to Issue Quarterly Dividend of $0.05 on June 7th

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 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, April 26th.

EVERTEC Stock Up 1.6 %

Shares of NYSE EVTC opened at $37.79 on Friday. The business has a 50-day moving average price of $38.78 and a 200 day moving average price of $38.15. The stock has a market cap of $2.43 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 2.19 and a beta of 1.20. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.58. EVERTEC has a 52-week low of $31.55 and a 52-week high of $42.21.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.53 earnings per share 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 analyst estimates of $179.86 million. EVERTEC had a net margin of 11.48% and a return on equity of 29.73%. Equities research analysts forecast that EVERTEC will post 2.33 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On EVERTEC

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC lifted its holdings in shares of EVERTEC by 15.9% during the 1st quarter. HighTower Advisors LLC now owns 28,929 shares of the business services provider’s stock worth $1,183,000 after acquiring an additional 3,976 shares during the period. Private Advisor Group LLC lifted its stake in shares of EVERTEC by 27.1% during the first quarter. Private Advisor Group LLC now owns 15,245 shares of the business services provider’s stock worth $624,000 after purchasing an additional 3,249 shares in the last quarter. Bank of Montreal Can boosted its position in shares of EVERTEC by 4.5% in the first quarter. Bank of Montreal Can now owns 47,353 shares of the business services provider’s stock worth $1,966,000 after buying an additional 2,028 shares during the period. MetLife Investment Management LLC grew its stake in shares of EVERTEC by 55.1% in the first quarter. MetLife Investment Management LLC now owns 32,586 shares of the business services provider’s stock valued at $1,334,000 after buying an additional 11,570 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of EVERTEC by 4.1% during the 1st quarter. Rhumbline Advisers now owns 147,724 shares of the business services provider’s stock valued at $6,046,000 after buying an additional 5,874 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. StockNews.com lowered shares of EVERTEC from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Morgan Stanley boosted their price target on 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 issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $41.33.

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.