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

EVERTEC, Inc. (NYSE:EVTC - Get Free Report) declared a quarterly dividend on Friday, April 19th, Wall Street Journal reports. Stockholders 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 dividend yield of 0.53%. The ex-dividend date of this dividend is Friday, April 26th.

EVERTEC Stock Performance

Shares of EVTC stock traded up $0.60 during trading hours on Friday, reaching $37.79. 255,009 shares of the company traded hands, compared to its average volume of 319,800. EVERTEC has a 12-month low of $31.55 and a 12-month high of $42.21. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market cap of $2.43 billion, a P/E ratio of 31.23, a P/E/G ratio of 2.18 and a beta of 1.20. The firm has a 50-day moving average price of $38.78 and a 200 day moving average price of $38.15.

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

Insider Activity at EVERTEC

In related news, Director Frank G. D'angelo sold 16,000 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $37.43, for a total transaction of $598,880.00. Following the completion of the transaction, the director now owns 10,380 shares in the company, valued at approximately $388,523.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other EVERTEC news, Director Frank G. D'angelo sold 16,000 shares of the company's stock in a transaction on 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 sale, the director now directly owns 10,380 shares in the company, valued at approximately $388,523.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Morgan M. Schuessler sold 100,000 shares of the company's stock in a transaction on 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 sale, the chief executive officer now owns 347,941 shares of the company's stock, valued at $12,939,925.79. The disclosure for this sale can be found here. 0.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of EVERTEC by 0.9% in the first quarter. BlackRock Inc. now owns 9,289,037 shares of the business services provider's stock valued at $380,201,000 after purchasing an additional 85,465 shares during the period. Vanguard Group Inc. boosted its stake in shares of EVERTEC by 0.8% in the first quarter. Vanguard Group Inc. now owns 7,558,601 shares of the business services provider's stock worth $309,373,000 after buying an additional 58,160 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of EVERTEC by 2.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,554,899 shares of the business services provider's stock worth $153,728,000 after buying an additional 87,619 shares during the last quarter. State Street Corp boosted its position in EVERTEC by 3.2% during the second quarter. State Street Corp now owns 2,289,404 shares of the business services provider's stock worth $84,319,000 after purchasing an additional 70,144 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in EVERTEC by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,617,822 shares of the business services provider's stock worth $54,599,000 after purchasing an additional 25,358 shares in the last quarter. 96.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EVTC has been the topic of a number of research reports. Morgan Stanley lifted their price objective on EVERTEC from $32.00 to $33.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 27th. StockNews.com downgraded EVERTEC from a "buy" rating to a "hold" rating in a research report on Thursday, February 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $41.33.

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.