Tompkins Financial (NYSEAMERICAN:TMP) Reaches New 1-Year High – Here’s What Happened

Tompkins Financial Corporation (NYSEAMERICAN:TMP) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $91.00 and last traded at $90.23, with a volume of 86327 shares changing hands. The stock had previously closed at $89.48.

Analyst Upgrades and Downgrades

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

Tompkins Financial Price Performance

The company has a market cap of $1.30 billion, a P/E ratio of 7.73 and a beta of 0.75. The company has a fifty day simple moving average of $84.51 and a 200-day simple moving average of $79.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.94 and a quick ratio of 0.94.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its quarterly earnings data on Friday, April 24th. The financial services provider reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.11. Tompkins Financial had a net margin of 28.93% and a return on equity of 11.27%. The firm had revenue of $83.70 million for the quarter, compared to analysts’ expectations of $83.64 million. On average, sell-side analysts predict that Tompkins Financial Corporation will post 7.55 earnings per share for the current year.

Tompkins Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, May 8th. Tompkins Financial’s payout ratio is presently 54.14%.

Insiders Place Their Bets

In other news, Director Ita M. Rahilly acquired 1,164 shares of the stock in a transaction on Tuesday, May 26th. The shares were purchased at an average cost of $85.90 per share, for a total transaction of $99,987.60. Following the transaction, the director owned 11,849 shares in the company, valued at approximately $1,017,829.10. This trade represents a 10.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.52% of the company’s stock.

Hedge Funds Weigh In On Tompkins Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in Tompkins Financial by 104.5% during the 4th quarter. SG Americas Securities LLC now owns 27,168 shares of the financial services provider’s stock worth $1,970,000 after purchasing an additional 13,884 shares in the last quarter. LSV Asset Management grew its position in Tompkins Financial by 34.0% during the 3rd quarter. LSV Asset Management now owns 36,400 shares of the financial services provider’s stock worth $2,410,000 after purchasing an additional 9,230 shares in the last quarter. Public Sector Pension Investment Board grew its position in Tompkins Financial by 15.7% during the 3rd quarter. Public Sector Pension Investment Board now owns 49,494 shares of the financial services provider’s stock worth $3,277,000 after purchasing an additional 6,711 shares in the last quarter. Vanguard Group Inc. grew its position in Tompkins Financial by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 1,385,961 shares of the financial services provider’s stock worth $100,510,000 after purchasing an additional 15,227 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in Tompkins Financial by 270.0% during the 4th quarter. Intech Investment Management LLC now owns 24,656 shares of the financial services provider’s stock worth $1,788,000 after purchasing an additional 17,992 shares in the last quarter. 69.11% of the stock is currently 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.