Evercore Has Several Growth Drivers
Evercore: Time To Start Accumulating
Wed, Jul. 27, 8:14 AM
Wed, Jul. 27, 6:01 AM
Tue, Jul. 26, 5:30 PM
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Wed, Jul. 20, 9:37 AM
- The management team of Evercore Mexico Capital Partners will take over the business, under a newly formed entity named Glisco Partners.
- Evercore (NYSE:EVR) will receive a fixed percentage of management fees earned by Glisco for up to 10 years, as well as a portion of the carried interest in the next two successor funds.
Mon, Jun. 27, 1:00 PM
Mon, Jun. 27, 12:42 PM
- "Uncertainty always slows down M&A activity," says Evercore Partners (EVR -12.8%) CEO Ralph Schlosstein. "The price that buyers are willing to pay for companies weakens a little bit because there’s more risk, and more uncertainty.”
- Along with Evercore, Lazard (LAZ -11.5%), Moelis (MC -6.9%), Greenhill (GHL -9.5%), and PJT Partners (PJT -10.7%) are posting near 20% two-day declines since the U.K.'s Brexit vote.
- Lazard, for one, got 34% of its 2015 revenue from Europe, and Evercore generated 23% from "Europe and other" regions.
Wed, Apr. 27, 6:17 AM
Wed, Apr. 27, 6:08 AM
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Wed, Feb. 3, 6:04 AM
- Evercore Partners (NYSE:EVR): Q4 EPS of $1.22 beats by $0.52.
- Revenue of $404M (+25.9% Y/Y) misses by $56.74M.
Tue, Feb. 2, 5:30 PM
Dec. 9, 2015, 8:55 AM
- "Great bankers will figure out a way to make money," says Evercore Partners (NYSE:EVR) CEO Ralph Schlosstein, telling an investor conference his inclination is to hire rainmakers even when there's no job opening.
- He reminds the audience of a quote from Siegmund Warburg who would often get asked how he had so many great bankers at his firm: "It’s very simple. I look at a great banker the way I look at a nice tie. If I see it, I buy it whether I need it or not."
- Evercore is on a record hiring pace this year, including brining on dealmakers from Goldman Sachs and BofA, plus Lazard's Daniel Aronson for restructuring - an area where Schlosstein says his bank is better positioned versus larger competitors. “We have a benefit that you at Goldman Sachs don’t have, and that’s when things get a little tougher, we have a restructuring business."
- Previously: Boutique IBs hoping rates hikes boost restructuring work (Sept. 21)
Nov. 20, 2015, 3:36 PM
- The top five on KBW's list of financial stocks which saw the most institutional buying in Q3:
- Great Western Bancorp (NYSE:GWB) had a 12% boost in institutional ownership and gained 5.2% during the quarter.
- Kearny Finanical (NASDAQ:KRNY) had a 9.4% increase in ownership; Lending Club (NYSE:LC) a 7.9% increase; Popular (NASDAQ:BPOP) a 7.3% increase; Evercore Partners (NYSE:EVR) a 7.2% increase.
- Overall, says KBW, institutional funds boosted their holdings of financial stocks in Q3, but remain underweight the sector for the 6th straight quarter (just barely now).
Nov. 2, 2015, 7:17 AM
- Evercore (NYSE:EVR) announces a secondary offering of 5.455M shares, all of which are being sold by Mizuho Bank. 3.1M shares will be sold to the public, and Evercore is buying the rest of the offering.
- The shares being sold are those that are to be issued to Mizuho following exercise of a warrant the bank purchased in 2008. As part of the exercise, the bank will surrender the $120M of 5.2% senior notes due in 2020 that it acquired at that time.
- The two companies also announce an extension of their M&A cross-border alliance for another three years.
- Previously: Evercore Partners beats by $0.12, beats on revenue (Nov. 2)
Nov. 2, 2015, 6:07 AM
- Evercore Partners (NYSE:EVR): Q3 EPS of $0.81 beats by $0.12.
- Revenue of $305.6M (+36.0% Y/Y) beats by $30.86M.
Nov. 1, 2015, 5:30 PM