Keefe, Bruyette & Woods initiated coverage on shares of Evertec (NYSE:EVTC) in a research note released on Thursday morning, MarketBeat.com reports. The firm issued an outperform rating and a $32.00 price objective on the business services provider’s stock.
Other equities research analysts have also recently issued research reports about the company. Raymond James raised Evertec from a market perform rating to an outperform rating in a research note on Wednesday, October 31st. Zacks Investment Research raised Evertec from a hold rating to a buy rating and set a $30.00 price objective for the company in a research note on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Evertec has a consensus rating of Buy and an average price target of $24.38.
NYSE:EVTC opened at $27.12 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 18.45 and a beta of 1.03. Evertec has a 12 month low of $12.88 and a 12 month high of $29.70.
Evertec (NYSE:EVTC) last issued its earnings results on Tuesday, October 30th. The business services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The company had revenue of $112.02 million during the quarter, compared to the consensus estimate of $108.94 million. Evertec had a return on equity of 62.09% and a net margin of 16.52%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $0.33 EPS. As a group, research analysts anticipate that Evertec will post 1.66 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Monday, November 5th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Friday, November 2nd. Evertec’s dividend payout ratio is currently 13.61%.
In other Evertec news, insider Miguel Vizcarrondo sold 20,000 shares of Evertec stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $24.31, for a total transaction of $486,200.00. Following the completion of the transaction, the insider now owns 195,887 shares in the company, valued at approximately $4,762,012.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.76% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd boosted its holdings in Evertec by 392.3% during the third quarter. Harvest Fund Management Co. Ltd now owns 6,238 shares of the business services provider’s stock worth $150,000 after purchasing an additional 4,971 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Evertec by 64.2% during the third quarter. O Shaughnessy Asset Management LLC now owns 7,117 shares of the business services provider’s stock worth $171,000 after purchasing an additional 2,782 shares during the last quarter. First Hawaiian Bank purchased a new position in Evertec during the third quarter worth about $191,000. United Services Automobile Association purchased a new position in shares of Evertec in the 2nd quarter worth approximately $207,000. Finally, Amalgamated Bank purchased a new position in shares of Evertec in the 2nd quarter worth approximately $213,000. 79.64% of the stock is currently owned by hedge funds and other institutional investors.
EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.
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