Bank of Montreal Can Acquires 381 Shares of EVERTEC, Inc. (NYSE:EVTC)

Bank of Montreal Can increased its holdings in shares of EVERTEC, Inc. (NYSE:EVTC) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,084 shares of the business services provider’s stock after acquiring an additional 381 shares during the period. Bank of Montreal Can owned approximately 0.05% of EVERTEC worth $1,191,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EVTC. Opal Wealth Advisors LLC purchased a new stake in shares of EVERTEC in the 2nd quarter worth approximately $28,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of EVERTEC by 113.5% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,642 shares of the business services provider’s stock valued at $65,000 after acquiring an additional 873 shares in the last quarter. EntryPoint Capital LLC increased its holdings 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 valued at $110,000 after acquiring an additional 907 shares in the last quarter. nVerses Capital LLC raised its position in shares of EVERTEC by 68.4% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the business services provider’s stock worth $106,000 after purchasing an additional 1,300 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in EVERTEC in the 1st quarter worth about $162,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Insider Buying and Selling

In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $35.10, for a total value of $1,263,600.00. Following the transaction, the executive vice president now owns 39,370 shares of the company’s stock, valued at approximately $1,381,887. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other EVERTEC news, EVP Luis A. Rodriguez-Gonzalez sold 36,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $35.10, for a total transaction of $1,263,600.00. Following the completion of the sale, the executive vice president now directly owns 39,370 shares of the company’s stock, valued at approximately $1,381,887. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now owns 129,928 shares in the company, valued at $4,431,844.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.83% of the stock is currently owned by corporate insiders.

EVERTEC Price Performance

NYSE EVTC opened at $34.22 on Friday. EVERTEC, Inc. has a one year low of $28.76 and a one year high of $42.21. The stock has a 50-day moving average of $33.38 and a 200 day moving average of $34.89. 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 company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 34.57, a PEG ratio of 1.66 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.19. EVERTEC had a net margin of 8.84% and a return on equity of 32.08%. The firm had revenue of $211.98 million during the quarter, compared to analyst estimates of $209.40 million. On average, sell-side analysts forecast that EVERTEC, Inc. will post 2.53 EPS for the current year.

EVERTEC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 6th. Stockholders of record on Monday, July 29th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. EVERTEC’s dividend payout ratio (DPR) is currently 20.20%.

Analysts Set New Price Targets

A number of analysts have weighed in on EVTC shares. Susquehanna lowered shares of EVERTEC from a “neutral” rating to a “negative” rating and reduced their price objective for the company from $38.00 to $28.00 in a research note on Thursday, September 5th. Keefe, Bruyette & Woods reduced their price target on shares of EVERTEC from $47.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, July 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $34.33.

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.