Equitable Trust Co. Cuts Stock Position in EVERTEC, Inc. (NYSE:EVTC)

Equitable Trust Co. cut its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 9.7% during the third quarter, Holdings Channel reports. The firm owned 9,889 shares of the business services provider’s stock after selling 1,067 shares during the quarter. Equitable Trust Co.’s holdings in EVERTEC were worth $335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in shares of EVERTEC during the second quarter worth approximately $28,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of EVERTEC by 866.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,426 shares of the business services provider’s stock worth $81,000 after buying an additional 2,175 shares during the period. EntryPoint Capital LLC increased its stake 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 buying an additional 907 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of EVERTEC by 90.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,132 shares of the business services provider’s stock worth $104,000 after buying an additional 1,490 shares during the period. Finally, nVerses Capital LLC increased its stake in shares of EVERTEC by 68.4% during the second quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock worth $106,000 after buying an additional 1,300 shares during the period. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, 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.

Insider Transactions at EVERTEC

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of EVERTEC stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the completion of the transaction, the executive vice president now owns 129,928 shares of the company’s stock, valued at $4,431,844.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.83% of the company’s stock.

EVERTEC Price Performance

EVERTEC stock opened at $35.33 on Monday. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $42.21. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.82 and a current ratio of 1.82. The business has a fifty day moving average of $33.28 and a two-hundred day moving average of $33.97. The company has a market cap of $2.26 billion, a P/E ratio of 27.60, a price-to-earnings-growth ratio of 1.69 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last released its earnings results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. The company had revenue of $211.80 million during the quarter, compared to the consensus estimate of $211.51 million. EVERTEC had a return on equity of 32.61% and a net margin of 10.20%. EVERTEC’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. As a group, analysts predict that EVERTEC, Inc. will post 2.53 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, October 28th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, October 28th. EVERTEC’s dividend payout ratio (DPR) is presently 15.63%.

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.