Bank of New York Mellon Corp Sells 15,090 Shares of Evertec, Inc. (NYSE:EVTC)

Bank of New York Mellon Corp reduced its holdings in Evertec, Inc. (NYSE:EVTC - Free Report) by 2.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 517,250 shares of the business services provider's stock after selling 15,090 shares during the period. Bank of New York Mellon Corp owned approximately 0.81% of Evertec worth $19,019,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in EVTC. Quadrant Capital Group LLC grew its position in Evertec by 4,525.0% during the 4th quarter. Quadrant Capital Group LLC now owns 740 shares of the business services provider's stock worth $26,000 after purchasing an additional 724 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Evertec in the 4th quarter valued at $54,000. Blue Trust Inc. boosted its holdings in shares of Evertec by 39.2% in the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock valued at $56,000 after acquiring an additional 429 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Evertec by 44.7% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock valued at $62,000 after acquiring an additional 525 shares during the last quarter. Finally, Bridgefront Capital LLC purchased a new stake in shares of Evertec in the 4th quarter valued at $206,000. 96.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 stock was sold at an average price of $36.60, for a total transaction of $279,660.60. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Luis A. Rodriguez-Gonzalez sold 18,898 shares of Evertec stock in a transaction on 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 sale, the executive vice president directly owned 35,203 shares of the company's stock, 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. Over the last 90 days, insiders have sold 75,634 shares of company stock worth $2,742,976. 0.63% of the stock is currently owned by company insiders.

Evertec Stock Performance

NYSE EVTC traded up $0.26 during trading hours on Tuesday, hitting $33.69. The company had a trading volume of 352,412 shares, compared to its average volume of 338,110. Evertec, Inc. has a fifty-two week low of $31.11 and a fifty-two week high of $38.56. 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 business has a fifty day simple moving average of $36.18 and a 200-day simple moving average of $34.97. The firm has a market cap of $2.14 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.84 and a beta of 0.98.

Evertec (NYSE:EVTC - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate 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%. Evertec's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 earnings per share. Equities analysts predict that Evertec, Inc. will post 2.63 EPS for the current year.

Evertec Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Tuesday, May 13th were issued a $0.05 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.20 annualized dividend and a yield of 0.59%. Evertec's dividend payout ratio (DPR) is 10.05%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Evertec in a research report on Thursday, July 17th. They set a "hold" rating and a $35.00 price objective for the company. Raymond James Financial increased their target price on shares of Evertec from $39.00 to $42.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Keefe, Bruyette & Woods increased their target price on shares of Evertec from $42.00 to $44.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, Susquehanna set a $39.00 price objective on shares of Evertec and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus 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.