Truist Financial Corp Boosts Stake in EVERTEC, Inc. (NYSE:EVTC)

Truist Financial Corp increased its position in shares of EVERTEC, Inc. (NYSE:EVTC) by 1.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 68,032 shares of the business services provider’s stock after buying an additional 772 shares during the quarter. Truist Financial Corp owned about 0.11% of EVERTEC worth $2,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Meritage Portfolio Management increased its holdings in shares of EVERTEC by 5.5% in the 4th quarter. Meritage Portfolio Management now owns 14,245 shares of the business services provider’s stock valued at $583,000 after acquiring an additional 744 shares during the period. Louisiana State Employees Retirement System acquired a new stake in EVERTEC during the 4th quarter worth approximately $1,347,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of EVERTEC by 17.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,535 shares of the business services provider’s stock valued at $636,000 after purchasing an additional 2,316 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of EVERTEC by 73.1% during the third quarter. Envestnet Asset Management Inc. now owns 409,002 shares of the business services provider’s stock worth $15,207,000 after purchasing an additional 172,692 shares during the last quarter. Finally, Pathstone Family Office LLC lifted its holdings in shares of EVERTEC by 5.8% during the third quarter. Pathstone Family Office LLC now owns 319,935 shares of the business services provider’s stock worth $11,895,000 after purchasing an additional 17,467 shares during the period. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Analysts Set New Price Targets

EVTC has been the subject of several recent analyst reports. StockNews.com cut shares of EVERTEC from a “buy” rating to a “hold” rating in a research note on Thursday, February 29th. Morgan Stanley increased their target price on EVERTEC from $32.00 to $33.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $41.33.

EVERTEC Stock Down 0.3 %

Shares of NYSE EVTC opened at $37.16 on Wednesday. The firm’s 50 day moving average price is $37.91 and its 200 day moving average price is $38.24. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.59 and a current ratio of 1.59. The firm has a market cap of $2.39 billion, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 2.13 and a beta of 1.19. EVERTEC, Inc. has a 1 year low of $31.56 and a 1 year high of $42.21.

EVERTEC (NYSE:EVTC) last released its earnings results on Wednesday, February 28th. The business services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.06). EVERTEC had a net margin of 8.87% and a return on equity of 29.86%. The business had revenue of $194.62 million during the quarter, compared to analyst estimates of $179.86 million. As a group, sell-side analysts anticipate that EVERTEC, Inc. will post 2.33 earnings per share for the current year.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Monday, April 29th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Friday, April 26th. EVERTEC’s dividend payout ratio is currently 20.20%.

Insider Buying and Selling at EVERTEC

In related news, CEO Morgan M. Schuessler sold 100,000 shares of EVERTEC stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $37.19, for a total value of $3,719,000.00. Following the transaction, the chief executive officer now owns 347,941 shares in the company, valued at $12,939,925.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Frank G. D’angelo sold 16,000 shares of EVERTEC stock in a transaction on Monday, March 11th. The shares were sold at an average price of $37.43, for a total transaction of $598,880.00. Following the transaction, the director now owns 10,380 shares in the company, valued at approximately $388,523.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Morgan M. Schuessler sold 100,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $37.19, for a total value of $3,719,000.00. Following the completion of the sale, the chief executive officer now owns 347,941 shares of the company’s stock, valued at $12,939,925.79. The disclosure for this sale can be found here. 0.83% of the stock is owned by company insiders.

EVERTEC Company 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.