Keefe, Bruyette & Woods Trims EVERTEC (NYSE:EVTC) Target Price to $42.00

EVERTEC (NYSE:EVTC) had its price objective lowered by Keefe, Bruyette & Woods from $47.00 to $42.00 in a research note released on Monday morning, Benzinga reports. The firm currently has an outperform rating on the business services provider’s stock.

EVERTEC Stock Performance

Shares of EVERTEC stock opened at $31.20 on Monday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.59 and a quick ratio of 1.59. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 1.88 and a beta of 1.13. The business has a 50-day moving average of $34.53 and a 200 day moving average of $37.59. EVERTEC has a 12 month low of $28.76 and a 12 month high of $42.21.

EVERTEC (NYSE:EVTC) last issued its earnings results on Wednesday, May 1st. The business services provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. EVERTEC had a return on equity of 29.86% and a net margin of 8.87%. The business had revenue of $205.32 million for the quarter, compared to analyst estimates of $200.75 million. As a group, sell-side analysts forecast that EVERTEC will post 2.38 earnings per share for the current year.

EVERTEC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Monday, April 29th were paid a $0.05 dividend. The ex-dividend date was Friday, April 26th. This represents a $0.20 annualized dividend and a dividend yield of 0.64%. EVERTEC’s dividend payout ratio (DPR) is currently 20.20%.

Institutional Trading of EVERTEC

A number of institutional investors have recently modified their holdings of the business. Bleakley Financial Group LLC boosted its position in EVERTEC by 1.5% during the first quarter. Bleakley Financial Group LLC now owns 20,589 shares of the business services provider’s stock worth $822,000 after purchasing an additional 302 shares in the last quarter. Willis Investment Counsel boosted its position in EVERTEC by 1.0% during the fourth quarter. Willis Investment Counsel now owns 34,476 shares of the business services provider’s stock worth $1,411,000 after purchasing an additional 345 shares in the last quarter. Bridge City Capital LLC raised its holdings in shares of EVERTEC by 0.8% in the first quarter. Bridge City Capital LLC now owns 58,286 shares of the business services provider’s stock worth $2,326,000 after acquiring an additional 438 shares during the last quarter. Yousif Capital Management LLC raised its holdings in shares of EVERTEC by 1.6% in the fourth quarter. Yousif Capital Management LLC now owns 32,464 shares of the business services provider’s stock worth $1,329,000 after acquiring an additional 500 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in shares of EVERTEC by 10.7% in the fourth quarter. First Trust Direct Indexing L.P. now owns 6,407 shares of the business services provider’s stock worth $262,000 after acquiring an additional 617 shares during the last quarter. 96.80% of the stock is currently owned by hedge funds and other institutional investors.

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.