Tompkins Financial (NYSEAMERICAN:TMP) Releases Quarterly Earnings Results

Tompkins Financial (NYSEAMERICAN:TMP) released its earnings results on Friday. The financial services provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.77 by $0.01, FiscalAI reports. Tompkins Financial had a return on equity of 11.24% and a net margin of 18.24%.The firm had revenue of $257.30 million during the quarter, compared to analysts’ expectations of $136.16 million.

Tompkins Financial Stock Performance

TMP traded up $1.55 during trading on Friday, hitting $78.28. The stock had a trading volume of 31,406 shares, compared to its average volume of 45,953. The firm has a market capitalization of $1.13 billion, a P/E ratio of 13.34 and a beta of 0.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. Tompkins Financial has a twelve month low of $54.16 and a twelve month high of $80.36. The company’s 50-day moving average price is $73.74 and its 200 day moving average price is $69.02.

Insider Buying and Selling at Tompkins Financial

In other news, Director Ita M. Rahilly purchased 1,463 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were acquired at an average cost of $68.36 per share, for a total transaction of $100,010.68. Following the completion of the purchase, the director directly owned 10,511 shares in the company, valued at $718,531.96. The trade was a 16.17% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.94% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tompkins Financial

A number of large investors have recently modified their holdings of TMP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Tompkins Financial by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,556 shares of the financial services provider’s stock valued at $476,000 after buying an additional 311 shares during the period. The Manufacturers Life Insurance Company raised its stake in Tompkins Financial by 8.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,982 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 378 shares during the last quarter. Horizon Investments LLC boosted its holdings in shares of Tompkins Financial by 7.3% during the third quarter. Horizon Investments LLC now owns 8,100 shares of the financial services provider’s stock worth $536,000 after purchasing an additional 554 shares during the last quarter. Raymond James Financial Inc. grew its holdings in Tompkins Financial by 21.6% in the third quarter. Raymond James Financial Inc. now owns 3,955 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 703 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Tompkins Financial by 9.2% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 12,542 shares of the financial services provider’s stock valued at $787,000 after purchasing an additional 1,059 shares in the last quarter. 69.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on TMP shares. Zacks Research upgraded shares of Tompkins Financial to a “hold” rating in a research note on Thursday, December 4th. Piper Sandler initiated coverage on Tompkins Financial in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $74.00 price objective for the company. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $74.00.

Tompkins Financial Company Profile

Tompkins Financial (NYSEAMERICAN:TMP) is a bank holding company headquartered in Ithaca, New York, that provides a diversified range of financial services. Through its principal banking subsidiary, Tompkins Trust Company, the firm offers commercial and consumer banking products including checking and savings accounts, mortgage loans, and credit facilities. Beyond traditional banking, Tompkins Financial delivers asset management, trust and estate planning, retirement services and investment advisory solutions.

In addition to its core banking operations, Tompkins Financial operates Tompkins Insurance Agencies, which offers property and casualty, life and health insurance coverages to individuals and businesses.