Hancock Whitney Corp bought a new position in shares of Evertec Inc (NYSE:EVTC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 22,400 shares of the business services provider’s stock, valued at approximately $643,000.
Other institutional investors have also added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its stake in shares of Evertec by 19.0% in the 4th quarter. New York State Common Retirement Fund now owns 207,125 shares of the business services provider’s stock worth $5,944,000 after acquiring an additional 33,045 shares during the period. Clearbridge Investments LLC lifted its stake in shares of Evertec by 23,929.8% in the third quarter. Clearbridge Investments LLC now owns 637,030 shares of the business services provider’s stock valued at $15,352,000 after purchasing an additional 634,379 shares during the period. Metropolitan Life Insurance Co. NY lifted its stake in shares of Evertec by 355.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 19,883 shares of the business services provider’s stock valued at $571,000 after purchasing an additional 15,514 shares during the period. Two Sigma Investments LP acquired a new stake in shares of Evertec in the fourth quarter valued at about $3,373,000. Finally, First Trust Advisors LP lifted its stake in shares of Evertec by 421.2% in the fourth quarter. First Trust Advisors LP now owns 142,823 shares of the business services provider’s stock valued at $4,099,000 after purchasing an additional 115,419 shares during the period. Institutional investors own 81.14% of the company’s stock.
In other Evertec news, insider Diana I. Rivera-Ramirez sold 1,500 shares of Evertec stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $28.10, for a total transaction of $42,150.00. Following the transaction, the insider now directly owns 24,137 shares of the company’s stock, valued at $678,249.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Diana I. Rivera-Ramirez sold 3,000 shares of Evertec stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $27.10, for a total transaction of $81,300.00. Following the transaction, the insider now directly owns 25,637 shares in the company, valued at $694,762.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 191,721 shares of company stock valued at $5,173,689. 0.76% of the stock is owned by insiders.
Evertec (NYSE:EVTC) last issued its quarterly earnings results on Wednesday, February 20th. The business services provider reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. Evertec had a net margin of 19.01% and a return on equity of 64.03%. The business had revenue of $118.20 million during the quarter, compared to the consensus estimate of $114.72 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, analysts anticipate that Evertec Inc will post 1.71 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, February 26th were issued a $0.05 dividend. The ex-dividend date was Monday, February 25th. This represents a $0.20 dividend on an annualized basis and a yield of 0.67%. Evertec’s payout ratio is 11.76%.
Separately, Zacks Investment Research downgraded shares of Evertec from a “buy” rating to a “hold” rating in a report on Tuesday, January 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $29.00.
Evertec Company Profile
EVERTEC, Inc and its subsidiaries engage in transaction processing business serving financial institutions, merchants, corporations, and government agencies in Latin America and the Caribbean. The company operates through four segments: Payment Services – Puerto Rico & Caribbean, Payment Services – Latin America, Merchant Acquiring, and Business Solutions.
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