Banco Bilbao Vizcaya Argentaria S.A. Buys 3,991 Shares of Evertec, Inc. $EVTC

Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Evertec, Inc. (NYSE:EVTC) by 31.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,825 shares of the business services provider’s stock after buying an additional 3,991 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Evertec were worth $605,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in EVTC. USA Financial Formulas purchased a new stake in shares of Evertec in the second quarter worth $26,000. Parkside Financial Bank & Trust boosted its stake in shares of Evertec by 479.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,355 shares of the business services provider’s stock worth $49,000 after buying an additional 1,121 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Evertec by 28.6% in the second quarter. Blue Trust Inc. now owns 1,958 shares of the business services provider’s stock worth $71,000 after acquiring an additional 436 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of Evertec in the 1st quarter worth approximately $80,000. Finally, Wealth Alliance LLC purchased a new position in shares of Evertec during the 1st quarter worth $209,000. Hedge funds and other institutional investors own 96.80% of the company’s stock.

Evertec Stock Up 0.8%

Shares of NYSE EVTC opened at $28.55 on Wednesday. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.20 and a quick ratio of 2.20. The firm has a 50-day simple moving average of $31.15 and a two-hundred day simple moving average of $34.15. Evertec, Inc. has a 1 year low of $26.72 and a 1 year high of $38.56. The company has a market cap of $1.83 billion, a P/E ratio of 13.46, a PEG ratio of 1.43 and a beta of 0.92.

Evertec (NYSE:EVTC) last released its earnings results on Thursday, November 6th. The business services provider reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.03. The business had revenue of $227.93 million during the quarter, compared to the consensus estimate of $224.68 million. Evertec had a return on equity of 36.67% and a net margin of 15.56%.The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. Evertec has set its FY 2025 guidance at 3.560-3.620 EPS. Research analysts anticipate that Evertec, Inc. will post 2.63 earnings per share for the current year.

Evertec Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Monday, November 3rd will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 3rd. This represents a $0.20 dividend on an annualized basis and a yield of 0.7%. Evertec’s dividend payout ratio is 8.89%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EVTC. Keefe, Bruyette & Woods decreased their price objective on Evertec from $44.00 to $40.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Evertec in a report on Monday. Susquehanna dropped their target price on shares of Evertec from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Zacks Research downgraded shares of Evertec from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Morgan Stanley cut their price target on Evertec from $34.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, November 12th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $35.80.

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.