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

EVERTEC, Inc. (NYSE:EVTC) announced a quarterly dividend on Thursday, October 17th, Wall Street Journal reports. Shareholders of record on Monday, October 28th will be given a dividend of 0.05 per share by the business services provider on Friday, December 6th. This represents a $0.20 annualized dividend and a yield of 0.61%. The ex-dividend date is Monday, October 28th.

EVERTEC has a payout ratio of 6.2% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE:EVTC opened at $32.66 on Friday. The business has a fifty day moving average price of $33.30 and a 200-day moving average price of $34.30. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.82 and a quick ratio of 1.82. The company has a market capitalization of $2.09 billion, a PE ratio of 31.10, a PEG ratio of 1.62 and a beta of 1.15. EVERTEC has a 1-year low of $28.76 and a 1-year high of $42.21.

EVERTEC (NYSE:EVTC) last released its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.19. The business had revenue of $211.98 million during the quarter, compared to analyst estimates of $209.40 million. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. As a group, equities analysts expect that EVERTEC will post 2.53 EPS for the current fiscal year.

Insider Buying and Selling

In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the completion of the sale, the executive vice president now directly owns 39,370 shares in the company, valued at approximately $1,381,887. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $34.11, for a total value of $1,364,400.00. Following the transaction, the executive vice president now owns 129,928 shares of the company’s stock, valued at approximately $4,431,844.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the sale, the executive vice president now owns 39,370 shares of the company’s stock, valued at $1,381,887. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on EVTC shares. Keefe, Bruyette & Woods decreased their price objective on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and lowered their price target for the company from $38.00 to $28.00 in a report on Thursday, September 5th.

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.