EVERTEC, Inc. (EVTC) To Go Ex-Dividend on May 13th

EVERTEC, Inc. (NYSE:EVTC) declared a quarterly dividend on Friday, May 2nd, RTT News reports. Shareholders of record on Tuesday, May 13th will be paid a dividend of 0.05 per share by the business services provider on Friday, June 6th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Tuesday, May 13th.

EVERTEC has a dividend payout ratio of 5.6% 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

NYSE EVTC opened at $35.64 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 1.84. EVERTEC has a twelve month low of $28.76 and a twelve month high of $38.32. The stock has a 50-day moving average of $35.03 and a 200 day moving average of $34.42. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 1.43 and a beta of 1.02.

EVERTEC (NYSE:EVTC) last announced its earnings results on Wednesday, May 7th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.06. The firm had revenue of $228.79 million for the quarter, compared to analyst estimates of $217.97 million. EVERTEC had a return on equity of 33.01% and a net margin of 10.20%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. Sell-side analysts anticipate that EVERTEC will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EVTC has been the topic of a number of research reports. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research note on Thursday, February 27th. Keefe, Bruyette & Woods lifted their price target on EVERTEC from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday. Raymond James increased their price objective on EVERTEC from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Susquehanna raised shares of EVERTEC from a “negative” rating to a “neutral” rating and lifted their target price for the stock from $28.00 to $30.00 in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, EVERTEC currently has an average rating of “Moderate Buy” and an average price target of $37.75.

Insiders Place Their Bets

In other news, EVP Paola Perez-Surillo sold 14,585 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $37.15, for a total transaction of $541,832.75. Following the transaction, the executive vice president now owns 35,203 shares of the company’s stock, valued at approximately $1,307,791.45. The trade was a 29.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Morgan M. Schuessler sold 80,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $37.45, for a total transaction of $2,996,000.00. Following the sale, the chief executive officer now owns 282,172 shares of the company’s stock, valued at approximately $10,567,341.40. The trade was a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,170 shares of company stock valued at $7,149,206. Insiders own 0.63% 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.