First Mercantile Trust Co Lowers stake in Evertec Inc (EVTC)

Evertec Inc (EVTC) : First Mercantile Trust Co reduced its stake in Evertec Inc by 13.06% during the most recent quarter end. The investment management company now holds a total of 67,045 shares of Evertec Inc which is valued at $1,078,084 after selling 10,075 shares in Evertec Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Evertec Inc makes up approximately 0.14% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , North Star Asset Management Inc boosted its stake in EVTC in the latest quarter, The investment management firm added 4,180 additional shares and now holds a total of 753,776 shares of Evertec Inc which is valued at $12,354,389. Evertec Inc makes up approx 1.39% of North Star Asset Management Inc’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in EVTC in the latest quarter, The investment management firm added 2,788 additional shares and now holds a total of 5,829 shares of Evertec Inc which is valued at $95,537.

Evertec Inc closed down -0.25 points or -1.53% at $16.08 with 2,37,673 shares getting traded on Friday. Post opening the session at $16.39, the shares hit an intraday low of $16.065 and an intraday high of $16.49 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Evertec Inc reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.41. The company had revenue of $97.67 million for the quarter, compared to analysts expectations of $95.64 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on Evertec Inc. Company shares were Reiterated by Compass Point on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 19 from a previous price target of $17 .

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. The Payment Processing segment provides access to the ATH network and other card networks to financial institutions including services such as authorization processing management and recording of automated teller machines (ATM) and POS transactions and ATM management and monitoring. The Business Solutions segment consist of a suite of business process management solutions in various product areas such as core bank processing network hosting and management among others.

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