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

EVERTEC, Inc. (NYSE:EVTC) declared a quarterly dividend on Thursday, April 18th, 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 0.52%. The ex-dividend date of this dividend is Friday, April 26th.

EVERTEC has a dividend payout ratio of 6.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect EVERTEC to earn $2.64 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 7.6%.

EVERTEC Stock Performance

Shares of EVTC stock opened at $38.66 on Wednesday. EVERTEC has a 1 year low of $31.55 and a 1 year high of $42.21. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 2.25 and a beta of 1.20. The stock’s 50-day moving average is $38.70 and its two-hundred day moving average is $38.17.

EVERTEC (NYSE:EVTC) last posted its earnings results on Wednesday, February 28th. The business services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). The business had revenue of $194.62 million for the quarter, compared to analyst estimates of $179.86 million. EVERTEC had a return on equity of 29.73% and a net margin of 11.48%. Analysts predict that EVERTEC will post 2.33 earnings per share for the current year.

Insider Transactions at EVERTEC

In other news, CEO Morgan M. Schuessler sold 100,000 shares of EVERTEC stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the completion of the sale, the chief executive officer now directly owns 347,941 shares in the company, valued at $12,939,925.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Morgan M. Schuessler sold 100,000 shares of the firm’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $37.19, for a total transaction of $3,719,000.00. Following the sale, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at $12,939,925.79. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank G. D’angelo sold 16,000 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $37.43, for a total value of $598,880.00. Following the completion of the transaction, the director now directly owns 10,380 shares of the company’s stock, valued at $388,523.40. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

EVTC has been the subject of several research reports. StockNews.com cut shares of EVERTEC from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. Morgan Stanley lifted their price target on EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, EVERTEC currently has a consensus rating of “Hold” and an average price target of $41.33.

EVERTEC Company Profile

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.