EVERTEC, Inc. (EVTC) To Go Ex-Dividend on April 26th

EVERTEC, Inc. (NYSE:EVTC) announced a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Friday, April 26th.

EVERTEC has a dividend payout ratio of 6.3% meaning its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

NYSE:EVTC opened at $38.66 on Wednesday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 1.58. The stock’s 50 day moving average price is $38.70 and its two-hundred day moving average price is $38.17. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 31.95, a P/E/G ratio of 2.25 and a beta of 1.20. EVERTEC has a 12-month low of $31.55 and a 12-month high of $42.21.

EVERTEC (NYSE:EVTC) last issued its quarterly earnings results on Wednesday, February 28th. The business services provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.06). The company 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%. On average, analysts anticipate that EVERTEC will post 2.33 earnings per share for the current year.

Insider Activity at EVERTEC

In related news, CEO Morgan M. Schuessler sold 100,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 347,941 shares in the company, valued at $12,939,925.79. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Frank G. D’angelo sold 16,000 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the completion of the sale, the director now directly owns 10,380 shares in the company, valued at $388,523.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Morgan M. Schuessler sold 100,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 347,941 shares of the company’s stock, valued at approximately $12,939,925.79. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.