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

EVERTEC, Inc. (NYSE:EVTC) declared a quarterly dividend on Thursday, April 18th, Wall Street Journal reports. Investors 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 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

EVTC opened at $38.83 on Thursday. The stock’s 50-day moving average price is $38.67 and its 200 day moving average price is $38.17. EVERTEC has a 12-month low of $31.55 and a 12-month high of $42.21. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.58. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 2.27 and a beta of 1.20.

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

Analysts Set New Price Targets

A number of research firms have issued reports on EVTC. Morgan Stanley increased their price target on EVERTEC from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Tuesday, February 27th. StockNews.com lowered EVERTEC from a “buy” rating to a “hold” rating in a research report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, EVERTEC has an average rating of “Hold” and an average price target of $41.33.

Insider Activity

In other news, Director Frank G. D’angelo sold 16,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $37.43, for a total value of $598,880.00. Following the transaction, the director now owns 10,380 shares in the company, valued at approximately $388,523.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other EVERTEC news, CEO Morgan M. Schuessler sold 100,000 shares of EVERTEC stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $37.19, for a total value of $3,719,000.00. Following the transaction, the chief executive officer now directly owns 347,941 shares in the company, valued at approximately $12,939,925.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank G. D’angelo sold 16,000 shares of EVERTEC 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 owns 10,380 shares in the company, valued at $388,523.40. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

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.