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

EVERTEC, Inc. (NYSE:EVTC) announced a quarterly dividend on Friday, May 2nd, RTT News reports. Stockholders 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% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of EVERTEC stock opened at $35.64 on Friday. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 27.84, a price-to-earnings-growth ratio of 1.43 and a beta of 1.02. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The business has a 50-day moving average of $35.03 and a 200 day moving average of $34.42. EVERTEC has a 12 month low of $28.76 and a 12 month high of $38.32.

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

Insider Activity at EVERTEC

In other news, CAO Karla Cruz sold 2,000 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $36.77, for a total value of $73,540.00. Following the completion of the transaction, the chief accounting officer now owns 18,065 shares in the company, valued at approximately $664,250.05. This represents a 9.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Morgan M. Schuessler sold 80,000 shares of EVERTEC stock in a transaction on 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 in the company, valued at $10,567,341.40. This represents a 22.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,170 shares of company stock valued at $7,149,206 over the last quarter. 0.63% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on EVTC shares. William Blair reaffirmed an “outperform” rating on shares of EVERTEC in a research report on Thursday, February 27th. Raymond James upped their price target on EVERTEC from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday. Susquehanna raised EVERTEC from a “negative” rating to a “neutral” rating and boosted their price objective for the stock from $28.00 to $30.00 in a research report on Thursday, February 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of EVERTEC from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.75.

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.