Hsbc Holdings PLC Purchases 3,330 Shares of Evertec, Inc. $EVTC

Hsbc Holdings PLC boosted its position in shares of Evertec, Inc. (NYSE:EVTC) by 35.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,707 shares of the business services provider’s stock after purchasing an additional 3,330 shares during the period. Hsbc Holdings PLC’s holdings in Evertec were worth $465,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Evertec by 39.2% during the 1st quarter. Blue Trust Inc. now owns 1,522 shares of the business services provider’s stock valued at $56,000 after purchasing an additional 429 shares during the last quarter. Fifth Third Bancorp grew its stake in Evertec by 44.7% in the 1st quarter. Fifth Third Bancorp now owns 1,699 shares of the business services provider’s stock worth $62,000 after acquiring an additional 525 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Evertec by 19.3% in the 1st quarter. TD Private Client Wealth LLC now owns 1,855 shares of the business services provider’s stock worth $68,000 after acquiring an additional 300 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Evertec in the 1st quarter worth about $80,000. Finally, Wealth Alliance LLC bought a new position in Evertec in the 1st quarter worth about $209,000. 96.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on EVTC. Keefe, Bruyette & Woods upped their target price on shares of Evertec from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Raymond James Financial restated an “outperform” rating and issued a $43.00 target price (up from $42.00) on shares of Evertec in a research note on Thursday, July 31st. Morgan Stanley dropped their target price on shares of Evertec from $35.00 to $34.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Evertec in a research note on Thursday, July 17th. They issued a “hold” rating and a $35.00 target price on the stock. Finally, Susquehanna set a $39.00 price target on shares of Evertec and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.

Insiders Place Their Bets

In other Evertec news, Director Aldo J. Polak sold 2,243 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $35.72, for a total value of $80,119.96. Following the completion of the sale, the director directly owned 11,946 shares in the company, valued at $426,711.12. This trade represents a 15.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is currently owned by company insiders.

Evertec Price Performance

Shares of EVTC opened at $35.61 on Tuesday. The company has a 50 day moving average price of $35.45 and a 200-day moving average price of $35.52. Evertec, Inc. has a fifty-two week low of $31.11 and a fifty-two week high of $38.56. The stock has a market capitalization of $2.28 billion, a PE ratio of 16.80, a PEG ratio of 1.74 and a beta of 0.93. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.20 and a current ratio of 2.20.

Evertec (NYSE:EVTC) last announced its earnings results on Wednesday, July 30th. The business services provider reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.03. The company had revenue of $229.61 million during the quarter, compared to the consensus estimate of $222.23 million. Evertec had a net margin of 15.56% and a return on equity of 36.67%. Evertec’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.83 earnings per share. Evertec has set its FY 2025 guidance at 3.440-3.520 EPS. Equities analysts predict that Evertec, Inc. will post 2.63 earnings per share for the current fiscal year.

Evertec Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Monday, August 4th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, August 4th. Evertec’s dividend payout ratio (DPR) is 9.43%.

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.