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

Evertec, Inc. (NYSE:EVTC - Get Free Report) announced a quarterly dividend on Thursday, July 24th, RTT News reports. Investors of record on Monday, August 4th will be given a dividend of 0.05 per share by the business services provider on Friday, September 5th. This represents a $0.20 annualized dividend and a yield of 0.60%.

Evertec has a payout ratio of 5.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Evertec to earn $2.70 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 7.4%.

Evertec Stock Performance

NYSE EVTC traded down $0.42 on Thursday, hitting $33.13. 213,281 shares of the stock were exchanged, compared to its average volume of 323,841. The business's fifty day moving average is $36.11 and its 200 day moving average is $34.96. The company has a market capitalization of $2.11 billion, a PE ratio of 16.65, a P/E/G ratio of 1.85 and a beta of 0.98. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.99 and a quick ratio of 1.99. Evertec has a 52 week low of $31.11 and a 52 week high of $38.56.

Evertec (NYSE:EVTC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.06. The firm had revenue of $228.79 million for the quarter, compared to analyst estimates of $217.97 million. Evertec had a return on equity of 38.45% and a net margin of 14.89%. The company's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 EPS. Research analysts anticipate that Evertec will post 2.63 EPS for the current fiscal year.

Insider Activity at Evertec

In related news, EVP Daniel Brignardello sold 7,641 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $36.60, for a total transaction of $279,660.60. Following the completion of the transaction, the executive vice president directly owned 31,277 shares of the company's stock, valued at approximately $1,144,738.20. This trade represents a 19.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of Evertec stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $35.69, for a total value of $674,469.62. Following the completion of the sale, the executive vice president directly owned 35,203 shares in the company, valued at approximately $1,256,395.07. The trade was a 34.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,634 shares of company stock worth $2,742,976 in the last three months. Corporate insiders own 0.63% of the company's stock.

Hedge Funds Weigh In On Evertec

Several hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC purchased a new position in Evertec in the first quarter valued at about $248,000. Royal Bank of Canada grew its position in shares of Evertec by 10.2% in the 1st quarter. Royal Bank of Canada now owns 37,786 shares of the business services provider's stock worth $1,389,000 after buying an additional 3,495 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Evertec by 3.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,915 shares of the business services provider's stock worth $1,394,000 after acquiring an additional 1,222 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Evertec by 1.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 86,721 shares of the business services provider's stock valued at $3,189,000 after acquiring an additional 846 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in Evertec by 184.6% in the first quarter. Jane Street Group LLC now owns 133,714 shares of the business services provider's stock valued at $4,917,000 after acquiring an additional 86,733 shares in the last quarter. Institutional investors own 96.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price target on Evertec from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Raymond James Financial boosted their target price on shares of Evertec from $39.00 to $42.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Susquehanna set a $39.00 price objective on Evertec and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Evertec in a research report on Thursday, July 17th. They set a "hold" rating and a $35.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $39.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.