Bank of New York Mellon Corp Has $18.38 Million Stock Holdings in EVERTEC, Inc. (NYSE:EVTC)

Bank of New York Mellon Corp grew its stake in EVERTEC, Inc. (NYSE:EVTC - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 532,340 shares of the business services provider's stock after buying an additional 7,614 shares during the period. Bank of New York Mellon Corp owned 0.84% of EVERTEC worth $18,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management UK Ltd. grew its stake in EVERTEC by 100.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 40,000 shares of the business services provider's stock worth $1,381,000 after purchasing an additional 20,000 shares during the period. Zacks Investment Management acquired a new stake in EVERTEC during the third quarter worth approximately $1,258,000. Algert Global LLC grew its stake in EVERTEC by 1,285.8% during the third quarter. Algert Global LLC now owns 91,341 shares of the business services provider's stock worth $3,096,000 after purchasing an additional 84,750 shares during the period. JPMorgan Chase & Co. grew its stake in EVERTEC by 11.0% during the third quarter. JPMorgan Chase & Co. now owns 337,776 shares of the business services provider's stock worth $11,447,000 after purchasing an additional 33,462 shares during the period. Finally, KBC Group NV grew its stake in EVERTEC by 34.8% during the fourth quarter. KBC Group NV now owns 3,188 shares of the business services provider's stock worth $110,000 after purchasing an additional 823 shares during the period. Institutional investors and hedge funds own 96.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on EVTC. William Blair reiterated an "outperform" rating on shares of EVERTEC in a report on Thursday, February 27th. Susquehanna upgraded EVERTEC from a "negative" rating to a "neutral" rating and increased their price target for the stock from $28.00 to $30.00 in a report on Thursday, February 27th. Finally, Morgan Stanley upgraded EVERTEC from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $33.00 to $35.00 in a report on Thursday, November 21st.

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Insider Activity

In related news, EVP Miguel Vizcarrondo sold 7,890 shares of EVERTEC stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $35.07, for a total transaction of $276,702.30. Following the completion of the sale, the executive vice president now owns 122,038 shares of the company's stock, valued at approximately $4,279,872.66. This trade represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Karla Cruz sold 2,000 shares of EVERTEC stock in a transaction on Friday, March 7th. The shares were sold at an average price of $36.77, for a total value of $73,540.00. Following the sale, the chief accounting officer now directly owns 18,065 shares of the company's stock, valued at $664,250.05. This represents a 9.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 207,183 shares of company stock worth $7,702,821. 0.83% of the stock is owned by corporate insiders.

EVERTEC Stock Performance

NYSE:EVTC opened at $36.06 on Wednesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.97 and a quick ratio of 1.97. The business has a fifty day simple moving average of $33.79 and a two-hundred day simple moving average of $33.96. EVERTEC, Inc. has a 1 year low of $28.76 and a 1 year high of $40.67. The company has a market capitalization of $2.29 billion, a P/E ratio of 28.17, a P/E/G ratio of 1.43 and a beta of 1.11.

EVERTEC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Monday, March 3rd will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, March 3rd. EVERTEC's dividend payout ratio (DPR) is presently 11.56%.

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.

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