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

EVERTEC, Inc. (NYSE:EVTC) announced a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Investors 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 yield of 0.53%. The ex-dividend date is Friday, April 26th.

EVERTEC Stock Up 1.6 %

EVERTEC stock opened at $37.79 on Friday. 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 debt-to-equity ratio of 1.58, a quick ratio of 1.88 and a current ratio of 1.88. EVERTEC has a one year low of $31.55 and a one year high of $42.21. The stock has a fifty day moving average of $38.78 and a 200 day moving average of $38.15.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, February 28th. The business services provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The firm had revenue of $194.62 million for the quarter, compared to analysts’ expectations of $179.86 million. EVERTEC had a net margin of 11.48% and a return on equity of 29.73%. As a group, sell-side analysts predict that EVERTEC will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EVTC shares. StockNews.com lowered EVERTEC from a “buy” rating to a “hold” rating in a report 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 report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, EVERTEC presently has an average rating of “Hold” and an average price target of $41.33.

Insider Buying and Selling at EVERTEC

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

Hedge Funds Weigh In On EVERTEC

A number of hedge funds have recently made changes to their positions in EVTC. Norges Bank bought a new position in shares of EVERTEC in the fourth quarter worth about $19,676,000. Goldman Sachs Group Inc. boosted its stake in EVERTEC by 592.1% during the first quarter. Goldman Sachs Group Inc. now owns 638,644 shares of the business services provider’s stock valued at $26,139,000 after buying an additional 546,369 shares during the last quarter. Pathstone Holdings LLC bought a new position in EVERTEC during the fourth quarter valued at approximately $13,225,000. JPMorgan Chase & Co. boosted its stake in EVERTEC by 88.2% during the second quarter. JPMorgan Chase & Co. now owns 535,287 shares of the business services provider’s stock valued at $19,715,000 after buying an additional 250,917 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in EVERTEC by 1,385.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 230,160 shares of the business services provider’s stock valued at $7,768,000 after buying an additional 214,666 shares during the last quarter. 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.