Nicolet Bankshares Inc. lowered its position in Evertec Inc. (NYSE:EVTC) by 2.9% during the third quarter, Holdings Channel reports. The institutional investor owned 15,100 shares of the company’s stock after selling 450 shares during the period. Nicolet Bankshares Inc.’s holdings in Evertec were worth $253,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. North Star Asset Management Inc. boosted its stake in Evertec by 0.6% in the third quarter. North Star Asset Management Inc. now owns 753,776 shares of the company’s stock valued at $12,648,000 after buying an additional 4,180 shares during the period. Bank of New York Mellon Corp boosted its stake in Evertec by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 287,345 shares of the company’s stock valued at $4,465,000 after buying an additional 4,219 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Evertec by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,683,066 shares of the company’s stock valued at $23,529,000 after buying an additional 6,464 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Evertec during the second quarter valued at $971,000. Finally, GSA Capital Partners LLP purchased a new stake in Evertec during the second quarter valued at $289,000. Institutional investors and hedge funds own 81.30% of the company’s stock.
Evertec Inc. (NYSE:EVTC) opened at 17.40 on Friday. The firm has a 50 day moving average of $15.58 and a 200-day moving average of $15.96. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 16.10 and a beta of 1.17. Evertec Inc. has a 1-year low of $11.27 and a 1-year high of $17.66.
Evertec (NYSE:EVTC) last issued its earnings results on Wednesday, November 2nd. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. Evertec had a net margin of 21.14% and a return on equity of 120.29%. The company had revenue of $94.47 million for the quarter, compared to the consensus estimate of $95.29 million. During the same period in the previous year, the firm earned $0.39 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities research analysts anticipate that Evertec Inc. will post $1.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Monday, November 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Wednesday, November 9th. Evertec’s payout ratio is 37.04%.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Evertec from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Tuesday, August 2nd. Deutsche Bank AG increased their target price on shares of Evertec from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, July 29th. Finally, Compass Point increased their target price on shares of Evertec from $17.00 to $19.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $17.40.
Evertec Company Profile
EVERTEC, Inc is a service transaction processing business in Latin America. The Company operates through three segments: Merchant Acquiring, Payment Processing and Business Solutions. The Merchant Acquiring segment consists of services that allow merchants to accept electronic methods of payment. Its services include a discount fee and membership fees charged to merchants, debit network fees and rental fees from point-of-sale (POS) devices and other equipment, net of credit card interchange and assessment fees.