Evercore Partners Shares Popped: What You Need to Know

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of investment bank Evercore Partners (NYS: EVR) jumped 21% today after the company released outstanding earnings.

So what: Net revenue grew 32% to $163.9 million in the third quarter, and earnings per share excluding certain items jumped 35% to $0.46 per share. Analysts were only expecting earnings per share of $0.31, so the company outperformed by a wide margin.

Now what: With corporations sitting on record cash levels, there's no reason to think the merger mania won't continue. Evercore has advised on $133.1 billion in proposed deals this year, accounting for the growth in revenue, and there's no reason M&A deals won't continue to grow. I'm bullish on Evercore's future and like to see the increased dividend to $0.20 per quarter from an investment bank, since such companies are notorious for making employees rich and not shareholders.

Interested in more info on Evercore Partners? Add it to your watchlist byclicking here.

At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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