Hsbc Holdings PLC Buys Shares of 13,000 Tompkins Financial Corporation $TMP

Hsbc Holdings PLC purchased a new stake in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 13,000 shares of the financial services provider’s stock, valued at approximately $1,215,000.

Other hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Tompkins Financial in the second quarter valued at about $1,428,000. Lazard Asset Management LLC acquired a new position in Tompkins Financial in the 1st quarter worth about $1,611,000. SG Americas Securities LLC raised its stake in shares of Tompkins Financial by 34.0% during the 1st quarter. SG Americas Securities LLC now owns 36,417 shares of the financial services provider’s stock worth $2,871,000 after purchasing an additional 9,249 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Tompkins Financial during the 1st quarter worth about $7,340,000. Finally, BlackRock Inc. acquired a new stake in shares of Tompkins Financial during the 2nd quarter valued at about $193,740,000. 69.11% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Piper Sandler boosted their price target on Tompkins Financial from $87.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods raised their price objective on shares of 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $104.50.

Tompkins Financial Stock Down 0.7%

TMP stock 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. Tompkins Financial Corporation has a 52-week low of $61.88 and a 52-week high of $102.58. The company has a 50-day moving average of $96.53 and a two-hundred day moving average of $87.50. The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of 7.95 and a beta of 0.74.

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

Tompkins Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were issued a $0.70 dividend. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.67. 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%. Tompkins Financial’s payout ratio is 56.57%.

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.