Tompkins Financial (NYSEAMERICAN:TMP) Sets New 52-Week High – Here’s What Happened

Tompkins Financial Corporation (NYSEAMERICAN:TMP) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $88.00 and last traded at $87.7010, with a volume of 67679 shares trading hands. The stock had previously closed at $86.72.

Analyst Ratings Changes

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $87.00 price objective (up from $82.00) on shares of Tompkins Financial in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $87.00.

Tompkins Financial Price Performance

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 7.49 and a beta of 0.75. The company has a fifty day moving average price of $83.56 and a two-hundred day moving average price of $78.43.

Tompkins Financial (NYSEAMERICAN:TMP) last announced its earnings results on Friday, April 24th. The financial services provider reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.11. Tompkins Financial had a net margin of 28.93% and a return on equity of 11.27%. The business had revenue of $83.70 million for the quarter, compared to analysts’ expectations of $83.64 million. On average, equities research analysts expect that Tompkins Financial Corporation will post 7.55 EPS for the current fiscal year.

Tompkins Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a $0.67 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.68 dividend on an annualized basis and a yield of 3.1%. Tompkins Financial’s payout ratio is currently 54.14%.

Insider Buying and Selling at Tompkins Financial

In other Tompkins Financial news, Director Ita M. Rahilly bought 1,164 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average price of $85.90 per share, for a total transaction of $99,987.60. Following the completion of the purchase, the director owned 11,849 shares of the company’s stock, valued at approximately $1,017,829.10. This represents a 10.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.52% of the company’s stock.

Institutional Trading of Tompkins Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hillsdale Investment Management Inc. purchased a new position in shares of Tompkins Financial in the 1st quarter valued at approximately $7,340,000. Rhino Investment Partners Inc increased its holdings in shares of Tompkins Financial by 88.5% in the first quarter. Rhino Investment Partners Inc now owns 166,941 shares of the financial services provider’s stock valued at $13,162,000 after purchasing an additional 78,391 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Tompkins Financial during the fourth quarter worth $4,351,000. Invesco Ltd. lifted its holdings in shares of Tompkins Financial by 95.9% during the second quarter. Invesco Ltd. now owns 98,191 shares of the financial services provider’s stock worth $6,160,000 after purchasing an additional 48,064 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Tompkins Financial by 43.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 102,891 shares of the financial services provider’s stock valued at $7,462,000 after buying an additional 31,171 shares during the last quarter. 69.11% of the stock is owned by hedge funds and other institutional investors.

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.