Amalgamated Bank Sells 824 Shares of EVERTEC, Inc. (NYSE:EVTC)

Amalgamated Bank lessened its holdings in EVERTEC, Inc. (NYSE:EVTC) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,890 shares of the business services provider’s stock after selling 824 shares during the quarter. Amalgamated Bank’s holdings in EVERTEC were worth $640,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EVTC. Bank of Montreal Can raised its stake in EVERTEC by 1.1% in the second quarter. Bank of Montreal Can now owns 35,084 shares of the business services provider’s stock valued at $1,191,000 after purchasing an additional 381 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in EVERTEC by 1.3% in the second quarter. Louisiana State Employees Retirement System now owns 32,400 shares of the business services provider’s stock valued at $1,077,000 after purchasing an additional 400 shares in the last quarter. nVerses Capital LLC raised its stake in EVERTEC by 12.5% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 400 shares in the last quarter. Arizona State Retirement System raised its stake in EVERTEC by 3.2% in the second quarter. Arizona State Retirement System now owns 18,323 shares of the business services provider’s stock valued at $609,000 after purchasing an additional 561 shares in the last quarter. Finally, Blair William & Co. IL raised its stake in EVERTEC by 2.2% in the second quarter. Blair William & Co. IL now owns 31,918 shares of the business services provider’s stock valued at $1,061,000 after purchasing an additional 679 shares in the last quarter. Institutional investors own 96.80% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Miguel Vizcarrondo sold 40,000 shares of the company’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 owns 129,928 shares of the company’s stock, valued at $4,431,844.08. This represents a 23.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.83% of the company’s stock.

EVERTEC Stock Up 0.5 %

Shares of NYSE EVTC opened at $34.63 on Friday. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 1.84. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 1.60 and a beta of 1.15. EVERTEC, Inc. has a 12 month low of $28.76 and a 12 month high of $42.21. The stock has a 50-day moving average price of $33.49 and a two-hundred day moving average price of $33.92.

EVERTEC (NYSE:EVTC) last issued its earnings results on Wednesday, November 6th. The business services provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.73 by $0.13. The firm 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 33.01% and a net margin of 10.20%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, analysts forecast that EVERTEC, Inc. will post 2.55 earnings per share for the current fiscal year.

EVERTEC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 yield of 0.58%. The ex-dividend date of this dividend is Monday, October 28th. EVERTEC’s payout ratio is 15.63%.

Analyst Ratings Changes

Separately, Susquehanna downgraded EVERTEC from a “neutral” rating to a “negative” rating and dropped their price target for the company from $38.00 to $28.00 in a research note on Thursday, September 5th.

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.