Canada Pension Plan Investment Board Makes New $879,000 Investment in Tompkins Financial Corporation $TMP

Canada Pension Plan Investment Board acquired a new position in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) in the 2nd quarter, HoldingsChannel reports. The fund acquired 9,300 shares of the financial services provider’s stock, valued at approximately $879,000.

Several other hedge funds also recently modified their holdings of the stock. Chicago Partners Investment Group LLC lifted its position in shares of Tompkins Financial by 1.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 11,697 shares of the financial services provider’s stock valued at $978,000 after acquiring an additional 133 shares during the period. Millennium Management LLC grew its holdings in Tompkins Financial by 1.1% in the fourth quarter. Millennium Management LLC now owns 16,863 shares of the financial services provider’s stock worth $1,223,000 after purchasing an additional 183 shares during the period. WINTON GROUP Ltd grew its holdings in Tompkins Financial by 1.1% in the fourth quarter. WINTON GROUP Ltd now owns 19,263 shares of the financial services provider’s stock worth $1,397,000 after purchasing an additional 206 shares during the period. Illinois Municipal Retirement Fund increased its stake in Tompkins Financial by 4.3% in the first quarter. Illinois Municipal Retirement Fund now owns 6,750 shares of the financial services provider’s stock valued at $532,000 after purchasing an additional 279 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Tompkins Financial during the second quarter valued at about $27,000. Institutional investors own 69.11% of the company’s stock.

Tompkins Financial Stock Down 0.7%

Shares of NYSEAMERICAN TMP opened at $97.12 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50-day moving average price of $96.53 and a 200-day moving average price of $87.50. The stock has a market capitalization of $1.40 billion, a P/E ratio of 7.95 and a beta of 0.74. Tompkins Financial Corporation has a 1 year low of $61.88 and a 1 year high of $102.58.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its earnings results on Friday, July 24th. The financial services provider reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.22. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. The company had revenue of $87.12 million for the quarter, compared to analyst estimates of $86.93 million. On average, equities research analysts forecast that Tompkins Financial Corporation will post 7.75 EPS for the current fiscal year.

Tompkins Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were issued a dividend of $0.70 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $2.80 dividend on an annualized basis and a yield of 2.9%. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.67. Tompkins Financial’s dividend payout ratio is presently 56.57%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TMP. Piper Sandler increased their price objective on shares of Tompkins Financial from $87.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods boosted their target price on Tompkins Financial from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $104.50.

Tompkins Financial 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.