Northern Trust Corp Has $33.38 Million Stake in Evertec, Inc. $EVTC

Key Points

• Northern Trust Corp increased its holdings in Evertec, Inc. by 7.1%, owning approximately 1.42% of the company with shares worth $33.4 million after acquiring an additional 60,484 shares.
• Evertec reported earnings of $0.89 per share for the last quarter, beating the consensus estimate of $0.86, along with an 8.3% year-over-year revenue growth.
• The company recently announced a quarterly dividend of $0.05 per share, representing an annualized yield of 0.6% and a dividend payout ratio of 9.43%.

Northern Trust Corp grew its stake in shares of Evertec, Inc. (NYSE:EVTC - Free Report) by 7.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 907,660 shares of the business services provider's stock after purchasing an additional 60,484 shares during the quarter. Northern Trust Corp owned 1.42% of Evertec worth $33,375,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of EVTC. Blue Trust Inc. increased its stake in Evertec by 39.2% during the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider's stock worth $56,000 after buying an additional 429 shares during the period. Fifth Third Bancorp increased its position in shares of Evertec by 44.7% during the first quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider's stock worth $62,000 after acquiring an additional 525 shares during the last quarter. TD Private Client Wealth LLC lifted its stake in shares of Evertec by 19.3% in the first quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider's stock worth $68,000 after acquiring an additional 300 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Evertec in the first quarter valued at about $80,000. Finally, Bridgefront Capital LLC purchased a new position in Evertec in the fourth quarter valued at about $206,000. Institutional investors and hedge funds own 96.80% of the company's stock.

Insiders Place Their Bets

In other news, Director Aldo J. Polak sold 2,243 shares of the firm's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $35.72, for a total transaction of $80,119.96. Following the completion of the transaction, the director owned 11,946 shares of the company's stock, valued at approximately $426,711.12. This trade represents a 15.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.63% of the stock is owned by insiders.

Evertec Stock Performance

Evertec stock traded down $0.54 during midday trading on Wednesday, reaching $34.34. 147,837 shares of the company's stock were exchanged, compared to its average volume of 316,302. The stock's 50-day simple moving average is $35.42 and its 200 day simple moving average is $35.51. Evertec, Inc. has a 52 week low of $31.11 and a 52 week high of $38.56. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 1.74 and a beta of 0.93. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.20 and a current ratio of 2.20.

Evertec (NYSE:EVTC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The business services provider reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.86 by $0.03. The business had revenue of $229.61 million for the quarter, compared to analyst estimates of $222.23 million. Evertec had a net margin of 15.56% and a return on equity of 36.67%. Evertec's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. On average, analysts expect that Evertec, Inc. will post 2.63 earnings per share for the current fiscal year.

Evertec Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 5th. Investors of record on Monday, August 4th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, August 4th. Evertec's dividend payout ratio (DPR) is 9.43%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on EVTC. Morgan Stanley dropped their price target on shares of Evertec from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Susquehanna set a $39.00 price target on Evertec and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft started coverage on Evertec in a research note on Thursday, July 17th. They set a "hold" rating and a $35.00 price objective on the stock. Keefe, Bruyette & Woods increased their target price on Evertec from $42.00 to $44.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $43.00 price target (up from $42.00) on shares of Evertec in a report on Thursday, July 31st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Evertec presently has a consensus rating of "Moderate Buy" and a consensus target price 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.