JPMorgan Chase & Co. Sells 21,935 Shares of Evertec, Inc. $EVTC

JPMorgan Chase & Co. decreased its position in shares of Evertec, Inc. (NYSE:EVTC) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 383,914 shares of the business services provider’s stock after selling 21,935 shares during the period. JPMorgan Chase & Co. owned 0.60% of Evertec worth $13,840,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers increased its position in shares of Evertec by 8.2% during the first quarter. Cetera Investment Advisers now owns 11,523 shares of the business services provider’s stock worth $424,000 after purchasing an additional 878 shares in the last quarter. XTX Topco Ltd purchased a new position in Evertec during the 1st quarter worth $331,000. Jefferies Financial Group Inc. purchased a new position in Evertec during the 1st quarter worth $211,000. Nuveen LLC acquired a new position in Evertec during the 1st quarter valued at about $7,196,000. Finally, Public Sector Pension Investment Board raised its stake in Evertec by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 201,708 shares of the business services provider’s stock valued at $7,417,000 after buying an additional 43,223 shares during the last quarter. 96.80% of the stock is currently owned by institutional investors and hedge funds.

Evertec Price Performance

Shares of NYSE EVTC opened at $29.55 on Friday. Evertec, Inc. has a 52 week low of $26.72 and a 52 week high of $38.56. The business’s 50 day moving average price is $30.01 and its 200 day moving average price is $33.52. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 1.59. The firm has a market cap of $1.89 billion, a P/E ratio of 13.13, a P/E/G ratio of 1.17 and a beta of 0.89.

Evertec Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Monday, November 3rd were paid a $0.05 dividend. The ex-dividend date was Monday, November 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.7%. Evertec’s dividend payout ratio is presently 8.89%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods dropped their price target on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Morgan Stanley lowered their target price on shares of Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a research report on Monday, December 1st. Zacks Research lowered shares of Evertec from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Susquehanna lowered their price objective on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.80.

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.