Mariko Gordon (Trades, Portfolio)Â of Daruma Capital Management more than tripled her stake in EverBank Financial Corp. (EVER, Financial) during the second quarter.
Gordon added 2,238,307 shares in the company at an average price of $14.86 per share. She now owns 3,277,809 shares of EverBank Financial.
EverBank Financial is a Jacksonville, Florida-based diversified financial services company that provides banking, mortgage and investing services to its clients. EverBank was recently purchased by the TIAA (Teachers Insurance and Annuity Association) for a reported $2.5 billion in cash. According to an article in the Wall Street Journal on Aug. 8, TIAA executives claimed that “EverBank’s digital technology and mortgage business were among the reasons they were interested in the deal.”
Everbank Financial also holds the naming rights to the Jacksonville Jaguars home stadium which was named EverBank Field in 2006. It recently extended the rights to call it EverBank Field until the end of the 2024 season for an estimated $43 million, according to the team's website.
EverBank has a market cap of $2.41 billion, an enterprise value of $7.96 billion, a price-earnings (P/E) ratio of 21.40, a price-book (P/B) ratio of 1.41 and a dividend yield of 1.25.
According to GuruFocus EverBank Financial has a 4 of 10 financial strength rating with a cash-debt ratio of 0.10, an equity to asset of 0.07, a Piotroski F-Score of 4 indicating the company’s financial situation is typical for a stable company. The company also has a Beneish M-Score of -2.54 indicating that it is not a manipulator of its financial statements. The company’s profitability and growth rating is 5 of 10 with an operating margin of 23.40%, a net-margin of 14.73%, an ROE of 6.18% and EPS growth (3) of 16.60% ranking it above 74% of the companies in the industry.
It's possible that Gordon hiked her stake in EverBank because the company has 55 years of operating experience, it's expanding its operations, and the company gets good advertising though its naming rights of EverBank Field.
Below is a Peter Lynch chart that shows EverBank is trading above its intrinsic value.
Gordon is founder and CEO Daruma Capital Management. She founded the investment firm with zero assets in 1995; since then Gordon has built her portfolio to 53 stocks with an estimated value of $1.531 billion.
Disclosure:Â Author does not own any shares of this company.
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