EverBank Financial (EVER) Is Strong On High Volume Today
Trade-Ideas LLC identified
(
) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified EverBank Financial as such a stock due to the following factors:
- EVER has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $8.9 million.
- EVER has traded 62,140 shares today.
- EVER is trading at 3.01 times the normal volume for the stock at this time of day.
- EVER is trading at a new high 3.06% above yesterday's close.
'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.
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More details on EVER:
EverBank Financial Corp, a savings and loan holding company, provides various financial products and services to individuals and small and mid-size businesses in the United States. The company operates in three segments: Consumer Banking, Commercial Banking, and Corporate Services. The stock currently has a dividend yield of 1.7%. EVER has a PE ratio of 13. Currently there are 5 analysts that rate EverBank Financial a buy, no analysts rate it a sell, and 3 rate it a hold.
The average volume for EverBank Financial has been 530,000 shares per day over the past 30 days. EverBank Financial has a market cap of $1.8 billion and is part of the financial sector and banking industry. The stock has a beta of 0.71 and a short float of 3.3% with 5.38 days to cover. Shares are down 12.2% year-to-date as of the close of trading on Tuesday.
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Analysis:
rates EverBank Financial as a
. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and attractive valuation levels. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.
Highlights from the ratings report include:
- The revenue growth came in higher than the industry average of 10.3%. Since the same quarter one year prior, revenues rose by 14.0%. Growth in the company's revenue appears to have helped boost the earnings per share.
- EVERBANK FINANCIAL CORP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, EVERBANK FINANCIAL CORP reported lower earnings of $0.95 versus $1.10 in the prior year. This year, the market expects an improvement in earnings ($1.30 versus $0.95).
- The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. When compared to other companies in the Thrifts & Mortgage Finance industry and the overall market, EVERBANK FINANCIAL CORP's return on equity is below that of both the industry average and the S&P 500.
- EVER's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 25.91%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Naturally, the overall market trend is bound to be a significant factor. However, in one sense, the stock's sharp decline last year is a positive for future investors, making it cheaper (in proportion to its earnings over the past year) than most other stocks in its industry. But due to other concerns, we feel the stock is still not a good buy right now.
- You can view the full EverBank Financial Ratings Report.
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