Three years after its initial public offering, EverBank Financial Corp. has completed a realignment of its operations and is focused on its core business.
“We’re really excited about where we’re positioned today,” Chairman and CEO Robert Clements said Thursday after the company’s annual shareholders meeting at the Downtown EverBank Center.
“We have all the pieces in place to achieve attractive financial returns,” he said.
As it announced first-quarter earnings last month, EverBank also announced the sale of servicing rights to $12.4 billion in “non-core” mortgage loans. Clements told analysts in a conference call the sale was the last step of a three-year plan.
“The announcement we made culminated our repositioning effort,” Clements said Thursday.
The company says it is now focused on serving its core consumer and commercial banking customers and providing shareholders with strong returns.
EverBank reported adjusted earnings rose 42 percent in the first quarter to $39.1 million, or 31 cents a share.
The company grew earnings from $1.02 a share in 2013 to $1.10 last year, and earnings are expected to reach $1.36 this year, according to the average forecast of analysts surveyed by Thomson Financial.
After the sale of the mortgage servicing rights in the first quarter and several other deals completed since its IPO, 2015 is likely to be quieter for EverBank.
“We have a track record for being very opportunistic,” Clements said.
However, “right now we feel like we’re in a good position where we don’t have to pursue more business opportunities,” he said.
“We’re really focused on strong organic growth.”
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