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

EVERTEC, Inc. (NYSE:EVTC) declared a quarterly dividend on Thursday, February 20th, RTT News reports. Shareholders of record on Monday, March 3rd will be given a dividend of 0.05 per share by the business services provider on Friday, March 21st. This represents a $0.20 annualized dividend and a yield of 0.60%.

EVERTEC has a payout ratio of 5.8% indicating that its dividend is sufficiently covered by earnings. Research 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 1.6 %

Shares of EVTC stock traded down $0.54 during trading on Thursday, hitting $33.45. 333,353 shares of the company were exchanged, compared to its average volume of 266,096. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 1.48 and a beta of 1.15. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.97 and a current ratio of 1.97. The business’s 50-day simple moving average is $33.47 and its 200 day simple moving average is $33.69. EVERTEC has a twelve month low of $28.76 and a twelve month high of $41.57.

Insiders Place Their Bets

In related news, EVP Daniel Brignardello sold 3,842 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $36.00, for a total value of $138,312.00. Following the transaction, the executive vice president now directly owns 32,481 shares in the company, valued at approximately $1,169,316. This trade represents a 10.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $36.08, for a total transaction of $1,748,184.24. Following the transaction, the chief financial officer now directly owns 54,998 shares of the company’s stock, valued at approximately $1,984,327.84. This represents a 46.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,308 shares of company stock valued at $2,440,112 over the last quarter. Insiders own 0.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EVTC. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research note on Wednesday, December 18th. Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $33.00 to $35.00 in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EVERTEC has a consensus rating of “Hold” and an average price target of $35.00.

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.