Truist Financial Corp Sells 983 Shares of EVERTEC, Inc. (NYSE:EVTC)

Truist Financial Corp decreased its stake in shares of EVERTEC, Inc. (NYSE:EVTC) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,849 shares of the business services provider’s stock after selling 983 shares during the period. Truist Financial Corp’s holdings in EVERTEC were worth $236,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its stake in shares of EVERTEC by 11.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 59,070 shares of the business services provider’s stock valued at $2,002,000 after buying an additional 6,038 shares during the period. Aptus Capital Advisors LLC boosted its holdings in EVERTEC by 15.6% in the third quarter. Aptus Capital Advisors LLC now owns 101,793 shares of the business services provider’s stock valued at $3,450,000 after acquiring an additional 13,738 shares during the last quarter. Natixis Advisors LLC increased its position in EVERTEC by 9.9% in the third quarter. Natixis Advisors LLC now owns 582,608 shares of the business services provider’s stock worth $19,745,000 after purchasing an additional 52,586 shares during the period. Intech Investment Management LLC bought a new stake in EVERTEC during the 3rd quarter worth about $617,000. Finally, Algert Global LLC lifted its position in EVERTEC by 1,285.8% during the 3rd quarter. Algert Global LLC now owns 91,341 shares of the business services provider’s stock valued at $3,096,000 after purchasing an additional 84,750 shares during the period. Institutional investors own 96.80% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on EVTC. William Blair reiterated an “outperform” rating on shares of EVERTEC in a research report on Thursday, February 27th. Susquehanna raised shares of EVERTEC from a “negative” rating to a “neutral” rating and lifted their target price for the stock from $28.00 to $30.00 in a report on Thursday, February 27th. Finally, Morgan Stanley raised EVERTEC from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $33.00 to $35.00 in a research note on Thursday, November 21st.

Insider Activity

In related news, EVP Miguel Vizcarrondo sold 8,123 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $34.09, for a total transaction of $276,913.07. Following the sale, the executive vice president now owns 113,915 shares of the company’s stock, valued at approximately $3,883,362.35. This trade represents a 6.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.83% of the stock is currently owned by company insiders.

EVERTEC Stock Performance

EVTC stock opened at $37.42 on Friday. The business’s fifty day moving average is $33.64 and its 200-day moving average is $33.87. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.84. The company has a market cap of $2.38 billion, a P/E ratio of 29.23, a price-to-earnings-growth ratio of 1.43 and a beta of 1.15. EVERTEC, Inc. has a twelve month low of $28.76 and a twelve month high of $40.67.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 3rd will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, March 3rd. EVERTEC’s dividend payout ratio (DPR) is currently 11.56%.

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.