Amalgamated Bank Sells 824 Shares of EVERTEC, Inc. (NYSE:EVTC)

Amalgamated Bank cut its stake in EVERTEC, Inc. (NYSE:EVTC) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,890 shares of the business services provider’s stock after selling 824 shares during the period. Amalgamated Bank’s holdings in EVERTEC were worth $640,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Edgestream Partners L.P. bought a new position in shares of EVERTEC during the 2nd quarter worth approximately $8,143,000. Aptus Capital Advisors LLC boosted its holdings in shares of EVERTEC by 24.8% during the 2nd quarter. Aptus Capital Advisors LLC now owns 88,055 shares of the business services provider’s stock worth $2,928,000 after buying an additional 17,475 shares in the last quarter. Invenomic Capital Management LP bought a new position in shares of EVERTEC during the 1st quarter worth approximately $2,407,000. ProShare Advisors LLC boosted its holdings in shares of EVERTEC by 7.2% during the 1st quarter. ProShare Advisors LLC now owns 13,163 shares of the business services provider’s stock worth $525,000 after buying an additional 882 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of EVERTEC by 7.9% during the 2nd quarter. Sei Investments Co. now owns 480,616 shares of the business services provider’s stock worth $15,981,000 after buying an additional 35,118 shares in the last quarter. 96.80% of the stock is currently owned by institutional investors.

EVERTEC Stock Performance

NYSE EVTC opened at $34.63 on Friday. The company has a fifty day simple moving average of $33.49 and a 200 day simple moving average of $33.92. EVERTEC, Inc. has a 12-month low of $28.76 and a 12-month high of $42.21. The company has a current ratio of 1.97, a quick ratio of 1.82 and a debt-to-equity ratio of 1.84. The company has a market cap of $2.20 billion, a P/E ratio of 27.05, a PEG ratio of 1.60 and a beta of 1.15.

EVERTEC (NYSE:EVTC) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. EVERTEC had a net margin of 10.20% and a return on equity of 33.01%. The business had revenue of $211.80 million during the quarter, compared to the consensus estimate of $211.51 million. During the same quarter last year, the firm posted $0.72 EPS. EVERTEC’s revenue was up 22.3% compared to the same quarter last year. Sell-side analysts predict that EVERTEC, Inc. will post 2.55 earnings per share for the current fiscal year.

EVERTEC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, October 28th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.58%. The ex-dividend date is Monday, October 28th. EVERTEC’s payout ratio is currently 15.63%.

Insider Activity at EVERTEC

In other EVERTEC news, EVP Miguel Vizcarrondo sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $34.11, for a total transaction of $1,364,400.00. Following the transaction, the executive vice president now directly owns 129,928 shares in the company, valued at approximately $4,431,844.08. This trade represents a 23.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, Susquehanna cut EVERTEC from a “neutral” rating to a “negative” rating and cut their price target for the stock from $38.00 to $28.00 in a report on Thursday, September 5th.

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.