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

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 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend is Monday, August 4th.

Evertec has a payout ratio of 5.6% meaning 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 Price Performance

Shares of EVTC traded down $0.01 during trading hours on Monday, reaching $33.32. 61,592 shares of the company traded hands, compared to its average volume of 310,711. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $2.12 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.84 and a beta of 0.98. Evertec has a fifty-two week low of $31.11 and a fifty-two week high of $38.56. The stock has a fifty day simple moving average of $35.94 and a 200 day simple moving average of $34.97.

Evertec (NYSE:EVTC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.06. Evertec had a return on equity of 38.45% and a net margin of 14.89%. The business had revenue of $228.79 million for the quarter, compared to analysts' expectations of $217.97 million. During the same quarter last year, the firm earned $0.72 earnings per share. The business's revenue was up 11.4% on a year-over-year basis. As a group, research analysts predict that Evertec will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its stake in shares of Evertec by 184.6% during 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. AQR Capital Management LLC acquired a new stake in shares of Evertec during the first quarter valued at about $248,000. Royal Bank of Canada grew its stake in shares of Evertec by 10.2% during the first quarter. Royal Bank of Canada now owns 37,786 shares of the business services provider's stock valued at $1,389,000 after acquiring an additional 3,495 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Evertec by 3.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,915 shares of the business services provider's stock valued at $1,394,000 after acquiring an additional 1,222 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Evertec by 1.0% in 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 worth $3,189,000 after purchasing an additional 846 shares in the last quarter. 96.80% of the stock is owned by hedge funds and other institutional investors.

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.