Mon, Aug. 8, 7:58 AM
- EverBank Financial (NYSE:EVER) +2.8% premarket after agreeing to be acquired by financial services provider TIAA for $19.50/share, or ~$2.5B.
- The deal, which is expected to close in H1 2017, represents a 4.6% premium to Friday's $18.64 closing price.
- Shares had climbed 20% since July 25 when reports indicated that the bank was actively discussing a potential sale.
- Florida-based EverBank has $27.4B in assets and $18.8B in deposits, and operates mostly online.
Tue, Jul. 26, 7:16 AM
- The negotiations are with a "well-respected financial services company," says EverBank (NYSE:EVER), and the deal would be for $19.50 per share in cash. The stock closed at $17.56 yesterday, rocketing higher by 13.3% on the leak of a possible sale.
- The putative buyer has an exclusivity agreement with EverBank expiring at the end of the day on August 8.
Mon, Jul. 25, 3:40 PM
- EverBank (EVER +12.2%) began working with UBS within the last two months after receiving an unsolicited approach, according to Bloomberg.
- The Jacksonville-based lender went public in 2012, and is the largest bank in Florida by deposits, though operating mostly online (just 12 branches as of last June).
- Its two largest investors are buyout firms Sageview Capital with more than 8%, and TPG Capital with about 7%.
Mon, Jul. 25, 1:00 PM
Mon, Jul. 25, 11:00 AM
- According to Bloomberg, EverBank (EVER +6.5%) wants in on the community bank consolidation trend, and has retained UBS to explore a sale.
Oct. 28, 2015, 10:31 AM
- CEO Robert Clements: "Our third quarter financial results were influenced by a difficult market environment and some unusual items ... We expect a rebound in our earnings in the fourth quarter."
- Q3 adjusted net income of $28.8M or $0.23 per share vs. $43.9M and $0.35 in Q2, and $41.5M and $0.33 one year ago. Expectations were for $0.46.
- Net interest income of $169M flat from Q2, with NIM of 2.90% down 21 basis points.
- Noninterest income of $41M off 51% Q/Q. Net loan servicing income of $6M vs. $26M thanks to change in the valuation allowance on the bank's MSR which included a $4M charge this quarter vs. a $16M recovery in Q2. Gain on sale of loans of $18M fell 56%.
- Noninterest expense of $152M fell 15%, with salaries, commissions and employee benefits of $89M down 7%.
- EVER -8.3%
Mar. 12, 2015, 4:44 PM
- EverBank Holdings (NYSE:EVER) announces a secondary offering of 2.9M shares by Sageview Partners and Teachers Insurance and Annuity Association of America. The company won't receive any proceeds from the sale.
- Shares -1.7% after hours.
Mar. 24, 2014, 2:54 PM
- Noting Bank of America's (BAC -0.9%) capital ratio in the Fed stress test was the lowest of any bank which passed, Atlantic Equities pulls its Overweight rating on the stock, and cuts the price target to $18.50 from $20. The stress test, says analyst Richard Staite, shows BofA with a $13B buffer over the minimum requirement, meaning maybe just $5B in buybacks and $2.5B dividends this year, "although we are somewhat nervous that it or another bank could be failed on a qualitative basis."
- Still, Staite expects a boost in the quarterly payout to $0.06 per share from a penny.
- Staite and team upgrade U.S. Bancorp (USB +0.7%) and Wells Fargo (WFC -0.4%) to Neutral from Underweight, citing the large margins by which they passed the stress test.
- In other financial sector moves, Sterne Agee boosts First Interstate BancSystem (FIBK +6%) to a Buy, citing the benefits of its impending merger with Mountain West Financial. The team also lifts EverBank Financial (EVER +2.4%) to a Buy from Neutral.
Mar. 12, 2013, 5:48 PM
Nov. 12, 2012, 5:45 PM
EverBank Financial Corp. operates as a bank holding company for EverBank, which engages in the provision of banking and financial services. It operates its business through three segments: Consumer Banking, Commercial Banking and Corporate Services. The Consumer Banking includes consumer deposit... More
Industry: Money Center Banks
Country: United States