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

EVERTEC, Inc. (NYSE:EVTC) announced a quarterly dividend on Friday, April 19th, 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 Price Performance

Shares of EVERTEC stock traded up $0.60 during midday trading on Friday, reaching $37.79. The company had a trading volume of 255,009 shares, compared to its average volume of 319,591. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 30.72, a price-to-earnings-growth ratio of 2.18 and a beta of 1.20. The stock has a fifty day simple moving average of $38.85 and a 200 day simple moving average of $38.15. EVERTEC has a 1-year low of $31.55 and a 1-year high of $42.21.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The company 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%. As a group, equities research analysts forecast that EVERTEC will post 2.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at EVERTEC

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

Institutional Trading of EVERTEC

Institutional investors have recently bought and sold shares of the business. Caxton Associates LP bought a new stake in EVERTEC in the 2nd quarter valued at about $266,000. LPL Financial LLC bought a new stake in EVERTEC in the 3rd quarter valued at about $249,000. Lazard Asset Management LLC boosted its holdings in EVERTEC by 18,211.1% in the 2nd quarter. Lazard Asset Management LLC now owns 6,592 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 6,556 shares during the period. Pearl River Capital LLC bought a new stake in shares of EVERTEC during the 1st quarter worth approximately $236,000. Finally, Point72 Middle East FZE bought a new stake in shares of EVERTEC during the 4th quarter worth approximately $235,000. Institutional investors own 96.80% of the company’s stock.

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.