Bank of New York Mellon Corp Sells 11,817 Shares of EVERTEC, Inc. (NYSE:EVTC)

Bank of New York Mellon Corp reduced its holdings in EVERTEC, Inc. (NYSE:EVTC) by 2.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 591,066 shares of the business services provider’s stock after selling 11,817 shares during the quarter. Bank of New York Mellon Corp’s holdings in EVERTEC were worth $19,653,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of EVERTEC during the second quarter worth about $28,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of EVERTEC during the fourth quarter worth about $31,000. Principal Securities Inc. acquired a new stake in shares of EVERTEC during the fourth quarter worth about $36,000. EntryPoint Capital LLC raised its position in shares of EVERTEC by 48.9% during the first quarter. EntryPoint Capital LLC now owns 2,761 shares of the business services provider’s stock worth $110,000 after purchasing an additional 907 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of EVERTEC during the first quarter worth about $162,000. 96.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Susquehanna lowered EVERTEC from a “neutral” rating to a “negative” rating and dropped their target price for the company from $38.00 to $28.00 in a research report on Thursday. Keefe, Bruyette & Woods dropped their target price on EVERTEC from $47.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $34.33.

EVERTEC Stock Down 0.9 %

Shares of EVERTEC stock opened at $31.65 on Friday. The business’s 50 day simple moving average is $33.32 and its 200 day simple moving average is $35.63. EVERTEC, Inc. has a 52-week low of $28.76 and a 52-week high of $42.21. The firm has a market cap of $2.04 billion, a PE ratio of 31.97, a P/E/G ratio of 1.70 and a beta of 1.13. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.82 and a current ratio of 1.82.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings results 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. EVERTEC had a return on equity of 32.08% and a net margin of 8.84%. On average, analysts predict that EVERTEC, Inc. will post 2.53 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, July 29th were paid a $0.05 dividend. The ex-dividend date was Monday, July 29th. This represents a $0.20 dividend on an annualized basis and a yield of 0.63%. EVERTEC’s dividend payout ratio is 20.20%.

Insider Buying and Selling at EVERTEC

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

EVERTEC 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.