EVERTEC, Inc. (NYSE:EVTC) to Issue $0.05 Quarterly Dividend

EVERTEC, Inc. (NYSE:EVTC) declared a quarterly dividend on Friday, October 18th, Wall Street Journal reports. Stockholders of record on Monday, October 28th will be paid a dividend of 0.05 per share by the business services provider on Friday, December 6th. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Monday, October 28th.

EVERTEC has a payout ratio of 6.2% 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 Stock Down 0.5 %

NYSE:EVTC traded down $0.17 during midday trading on Friday, hitting $33.28. 247,375 shares of the company were exchanged, compared to its average volume of 397,026. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 1.92. EVERTEC has a fifty-two week low of $28.76 and a fifty-two week high of $42.21. The company has a market capitalization of $2.14 billion, a PE ratio of 33.78, a price-to-earnings-growth ratio of 1.64 and a beta of 1.15. The company has a fifty day simple moving average of $33.30 and a 200 day simple moving average of $34.58.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.19. The business had revenue of $211.98 million during the quarter, compared to the consensus estimate of $209.40 million. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. As a group, equities analysts anticipate that EVERTEC will post 2.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods cut their price objective on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and lowered their price objective for the company from $38.00 to $28.00 in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $34.33.

Insider Activity

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, the executive vice president now owns 129,928 shares of the company’s stock, valued at $4,431,844.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the sale, the executive vice president now owns 129,928 shares in the company, valued at approximately $4,431,844.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the completion of the transaction, the executive vice president now owns 39,370 shares in the company, valued at $1,381,887. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.83% of the company’s stock.

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.