Daily News: May 4, 2012

EverBank Financial IPO Closes Up 6% on First Day of Trading


EverBank Financial’s stock closed at $10.60 a share on the New York Stock Exchange, up 6% from its initial public offering price of $10.00 per share in its first day as a public company.

EverBank had priced its initial public offering of 19.2 million shares of common stock at $10.00 per share. The company trades under the NYSE symbol “Ever”.

The bank was established in 1998 and has grown through a series of acquisitions, including Tygris Commercial Finance Group in 2009. The company subsequently changed its name to EverBank Commercial Finance.

Goldman Sachs, BofA Merrill Lynch and Credit Suisse Securities (USA) acted as joint book-running managers for the offering. Keefe, Bruyette & Woods, Sandler O’Neill + Partners, Evercore Partners, Raymond James, Macquarie Capital and Sterne Agee acted as co-managers for the offering.