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Silvercrest (SAMG) Surges 9%: Is This an Indication of Further Gains?

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Silvercrest (SAMG - Free Report) shares soared 9% in the last trading session to close at $21.78. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 19.2% gain over the past four weeks.

Silvercrest witnessed a rise in share price for the second consecutive day and touched a new 52-week high of $21.93. The performance of finance sector stocks, including investment management companies, has been decent in the first quarter of 2022 so far. With the operating backdrop gradually improving for the industry players, investors are turning bullish. This, thus, led to optimistic stance, which drove Silvercrest stock higher.

This investment company is expected to post quarterly earnings of $0.48 per share in its upcoming report, which represents a year-over-year change of +14.3%. Revenues are expected to be $36.2 million, up 15.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Silvercrest, the consensus EPS estimate for the quarter has been revised 1.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on SAMG going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Silvercrest is a member of the Zacks Financial - Investment Management industry. One other stock in the same industry, Federated Hermes (FHI - Free Report) , finished the last trading session 0.2% higher at $33.81. FHI has returned 0.8% over the past month.

For Federated Hermes, the consensus EPS estimate for the upcoming report has changed -3.5% over the past month to $0.70. This represents a change of -6.7% from what the company reported a year ago. Federated Hermes currently has a Zacks Rank of #3 (Hold).


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