Last $12.07 USD
Change Today -0.02 / -0.17%
Volume 639.3K
RATE On Other Exchanges
New York
As of 8:04 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

bankrate inc (RATE) Snapshot

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52 Week High
10/24/13 - $23.14
52 Week Low
09/15/14 - $10.66
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Current Stock Chart for BANKRATE INC (RATE)

bankrate inc (RATE) Details

Bankrate, Inc. publishes, aggregates, and distributes personal finance content on the Internet. The company distributes its content and rate information through its online network consisting of, its flagship Website that aggregates rate information on approximately 300 financial products, and other personal finance Websites; provides Web services to approximately 100 co-branded partners comprising personal finance sites on the Internet; and licenses editorial content to approximately 100 newspapers on a daily basis. Its products and services comprise information on rates for various types of mortgages, home lending, and refinancing options; original articles that cover topics, such as trends in housing markets and refinancing perspectives; and rate information on various deposit products, which include money market accounts, savings accounts, and certificates of deposit, as well as online analytic tools to calculate investment value using customized inputs. The company also provides insurance quotes for auto, business, health, home, life, and long-term care; advice and detailed descriptions of insurance terms; articles on topical subjects; credit card information and comparison capabilities, and allows consumers to search for cards; and information on retirement, taxes, auto, and debt management. In addition, it sells leads to insurance agents, insurance carriers, credit card issuers, and mortgage lenders; hyperlinks on a per-click pricing model; and digital display advertisements comprising leaderboards, banners, skyscrapers, islands, and posters advertisements. Further, the company sells advertising in the Mortgage Guide, CD and Deposit Guide, rate tables, and newsletter subscriptions, as well as licenses research information. Bankrate, Inc. was founded in 1993 and is based in North Palm Beach, Florida.

488 Employees
Last Reported Date: 02/27/14
Founded in 1993

bankrate inc (RATE) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $129.8K
Chief Executive Officer of Bankrate.Com
Total Annual Compensation: $387.0K
Senior Vice President
Total Annual Compensation: $412.0K
Senior Vice President and Chief Strategic Dev...
Total Annual Compensation: $337.0K
Chief Technology Officer and Senior Vice Pres...
Total Annual Compensation: $300.0K
Compensation as of Fiscal Year 2013.

bankrate inc (RATE) Key Developments

Rigrodsky & Long, P.A. Files Securities Fraud Class Action Lawsuit Against Bankrate, Inc

Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announced that a complaint has been filed in the United States District Court for the Southern District of Florida on behalf of all persons or entities that purchased the common stock of Bankrate, Inc. between March 1, 2013 and September 15, 2014, inclusive, alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers. According to the complaint, on September 15, 2014, the company filed a form 8-K with the SEC, announcing, among other things, that the SEC is investigating the company's financial reporting during 2012 and that some of its previously issued financial statements should no longer be relied upon. On this news, shares in Bankrate fell almost 14%, closing at $11.92 per share on September 16, 2014, on unusually heavy trading volume.

Bankrate, Inc. Announces Executive Changes; Securities and Exchange Commission Conducts Non-Public Formal Investigation Relating to Financial Reporting During 2012

Bankrate, Inc. announced the appointment of Steven D. Barnhart, as interim Chief Financial Officer, effective immediately. He succeeds Edward J. DiMaria, Senior Vice President and Bankrate's current Chief Financial Officer. Mr. Barnhart was most recently Senior Vice President and Chief Financial Officer of Sears Hometown and Outlet Stores. Prior to that, he was CFO at Bally Total Fitness, where he oversaw the finance and technology functions. From 2003 to 2009, Mr. Barnhart served in various executive leadership roles at Orbitz Worldwide, including Chief Financial Officer, President and then Chief Executive Officer. From 1990 to 2003, Mr. Barnhart served in various finance and strategy roles for PepsiCo, and as Finance Director, Southeast Business Unit, The Pepsi Bottling Group. Mr. Barnhart will report to Bankrate's President and Chief Executive Officer Kenneth S. Esterow. Mr. DiMaria has resigned his position as Chief Financial Officer of Bankrate. He will remain a Senior Vice President of Bankrate. The company announced that the Securities and Exchange Commission is conducting a non-public formal investigation relating to the company's financial reporting during 2012, with the principal focus on the quarters ending March 31, 2012 and June 30, 2012. The investigation is examining three accruals of revenue totaling approximately $781,000 in the aggregate and two adjustments to reduce accrued expenses totaling approximately $850,000 in the aggregate. All of these entries were made during the close process for the second quarter of 2012. The investigation is also examining, among other things, the timing and classification of additional entries relating to certain expenses, expense accruals and credits in the second quarter and other periods in 2012; an entry originally made in the third quarter of 2011 establishing an allowance of $460,000 for anticipated customer credits in the Insurance business that was ultimately reversed in the first quarter of 2012; and revenue and expense adjustments totaling $225,000 in May 2012 that were reversed in June 2012. The investigation is examining whether accounting entries in these periods may have improperly impacted the Company's reported results, including relative to market expectations at such time.

Bankrate, Inc. Settles a Lawsuit for $18 Million

Bankrate settled a lawsuit for $18 million. The shareholder class action suit, filed in New York federal court, alleged that Bankrate's insurance leads misled investors.


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