Inventory
info icon
Single family homes on the market. Updated weekly.Powered by Altos Research
722,032+456
30-yr Fixed Rate30-yr Fixed
info icon
30-Yr. Fixed Conforming. Updated hourly during market hours.
7.00%0.01
Investments

EverBank IPO prices short

Jacksonville-based EverBank Financial Corp. (EVER) saw its stock price rise nearly 2% during its first day of trading as a public company.

By close, the bank’s stock was trading at $10.60 a share. The company priced its initial public offering of 19.2 million shares of common stock at $10 per share.

EverBank originially looked to sell approximately 25 million shares for $12 and $14 each. After the IPO, EverBank said it plans to expand its mortgage financing operations, especially in commercial lending.

“We have recently expanded our retail and correspondent distribution channels and emphasized jumbo prime mortgages, which we retain on our balance sheet, to our mass-affluent customer base,” said EverBank in the filing.

EverBank said a day earlier that underwriters have a 30-day option to acquire an additional 2.8 million shares at the initial offering price less the underwriting discount.

EverBank’s IPO comes at a time when the bank is vocal about its expanding retail and correspondent distribution channels in the mortgage lending space. The company noted recently that it deals significantly with jumbo prime mortgages, which it holds on its balance sheet, for a more affluent customer base.

Earlier this year, EverBank acquired the warehouse finance business of MetLife Bank, securing a reputation for itself as a bank that wants to expand in the commercial real estate lending space.

kpanchuk@housingwire.com

Most Popular Articles

Latest Articles

Lower mortgage rates attracting more homebuyers 

An often misguided premise I see on social media is that lower mortgage rates are doing nothing for housing demand. That’s ok — very few people are looking at the data without an agenda. However, the point of this tracker is to show you evidence that lower rates have already changed housing data. So, let’s […]

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please