Tompkins Financial (NYSEAMERICAN:TMP) Hits New 52-Week High – Still a Buy?

Tompkins Financial Corporation (NYSEAMERICAN:TMP)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $93.04 and last traded at $93.0230, with a volume of 60547 shares traded. The stock had previously closed at $91.92.

Analyst Upgrades and Downgrades

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

Tompkins Financial Trading Up 1.3%

The firm has a market capitalization of $1.34 billion, a P/E ratio of 7.98 and a beta of 0.75. 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’s 50-day simple moving average is $86.08 and its 200-day simple moving average is $80.40.

Tompkins Financial (NYSEAMERICAN:TMP) last released its quarterly earnings results on Friday, April 24th. The financial services provider reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.11. The business had revenue of $83.69 million during the quarter, compared to analysts’ expectations of $83.64 million. Tompkins Financial had a net margin of 28.93% and a return on equity of 11.27%. Analysts anticipate that Tompkins Financial Corporation will post 7.55 EPS for the current year.

Tompkins Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a $0.67 dividend. The ex-dividend date was Friday, May 8th. This represents a $2.68 annualized dividend and a yield of 2.9%. Tompkins Financial’s payout ratio is 54.14%.

Insider Buying and Selling

In other news, Director Ita M. Rahilly purchased 1,164 shares of the stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $85.90 per share, for a total transaction of $99,987.60. Following the completion of the transaction, the director directly owned 11,849 shares of the company’s stock, valued at approximately $1,017,829.10. This trade represents a 10.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 2.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Tompkins Financial

A number of large investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. purchased a new stake in Tompkins Financial in the first quarter worth approximately $7,340,000. Rhino Investment Partners Inc raised its stake in shares of Tompkins Financial by 88.5% during the first quarter. Rhino Investment Partners Inc now owns 166,941 shares of the financial services provider’s stock worth $13,162,000 after acquiring an additional 78,391 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Tompkins Financial during the fourth quarter worth approximately $4,351,000. Invesco Ltd. lifted its holdings in shares of Tompkins Financial by 95.9% in the 2nd quarter. Invesco Ltd. now owns 98,191 shares of the financial services provider’s stock worth $6,160,000 after acquiring an additional 48,064 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of 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 purchasing an additional 31,171 shares in the last quarter. 69.11% of the stock is owned by hedge funds and other institutional investors.

About Tompkins Financial

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.