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

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 given 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 is Monday, October 28th.

EVERTEC has a payout ratio of 6.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

EVTC opened at $33.28 on Friday. The business has a 50 day moving average price of $33.31 and a two-hundred day moving average price of $34.55. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 33.62, a price-to-earnings-growth ratio of 1.64 and a beta of 1.15. EVERTEC has a 1-year low of $28.76 and a 1-year high of $42.21.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.19. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. The company had revenue of $211.98 million for the quarter, compared to the consensus estimate of $209.40 million. Research analysts predict that EVERTEC will post 2.53 EPS for the current fiscal year.

Analysts Set New Price Targets

EVTC has been the subject of several research reports. Keefe, Bruyette & Woods reduced 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 cut shares of EVERTEC from a “neutral” rating to a “negative” rating and reduced their target price for the stock 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 issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, EVERTEC has an average rating of “Hold” and an average price target of $34.33.

Insider Activity at EVERTEC

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

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.