EVERTEC, Inc. (EVTC) to Issue Quarterly Dividend of $0.05 on March 21st

EVERTEC, Inc. (NYSE:EVTC) announced a quarterly dividend on Thursday, February 20th, RTT News reports. Stockholders of record on Monday, March 3rd will be paid a dividend of 0.05 per share by the business services provider on Friday, March 21st. This represents a $0.20 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Monday, March 3rd.

EVERTEC has a dividend payout ratio of 5.8% 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 Down 0.7 %

Shares of EVTC stock opened at $33.15 on Friday. 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 company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 1.46 and a beta of 1.15. The company’s fifty day moving average price is $33.39 and its 200-day moving average price is $33.69. EVERTEC has a one year low of $28.76 and a one year high of $41.57.

Insider Transactions at EVERTEC

In related news, EVP Miguel Vizcarrondo sold 8,123 shares of EVERTEC stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $34.09, for a total transaction of $276,913.07. Following the completion of the transaction, the executive vice president now directly owns 113,915 shares of the company’s stock, valued at approximately $3,883,362.35. The trade was a 6.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joaquin A. Castrillo-Salgado sold 48,453 shares of EVERTEC stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $36.08, for a total transaction of $1,748,184.24. Following the transaction, the chief financial officer now directly owns 54,998 shares of the company’s stock, valued at approximately $1,984,327.84. This represents a 46.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,308 shares of company stock worth $2,440,112 in the last three months. Insiders own 0.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of EVERTEC from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $33.00 to $35.00 in a report on Thursday, November 21st. William Blair restated an “outperform” rating on shares of EVERTEC in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $35.00.

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.