Tompkins Financial (NYSEAMERICAN:TMP) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) saw strong trading volume on Tuesday . Approximately 65,397 shares changed hands during mid-day trading, a decline of 14% from the previous session’s volume of 75,765 shares.The stock last traded at $97.0710 and had previously closed at $97.91.

Analysts Set New Price Targets

TMP has been the topic of a number of recent research reports. Piper Sandler increased their price objective on Tompkins Financial from $87.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods lifted their target price on Tompkins Financial from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $104.50.

Tompkins Financial Stock Performance

The company’s fifty day simple moving average is $96.06 and its 200 day simple moving average is $87.23. The stock has a market capitalization of $1.40 billion, a P/E ratio of 7.99 and a beta of 0.74. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57.

Tompkins Financial (NYSEAMERICAN:TMP) last released its quarterly earnings results on Friday, July 24th. The financial services provider reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.22. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. The firm had revenue of $87.12 million for the quarter, compared to analysts’ expectations of $86.93 million. As a group, sell-side analysts forecast that Tompkins Financial Corporation will post 7.75 earnings per share for the current fiscal year.

Tompkins Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were paid a $0.70 dividend. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, August 7th. Tompkins Financial’s payout ratio is currently 56.57%.

Hedge Funds Weigh In On Tompkins Financial

A number of hedge funds and other institutional investors have recently modified their holdings of TMP. Nykredit A S purchased a new position in shares of Tompkins Financial during the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Tompkins Financial in the second quarter worth approximately $27,000. Bard Associates Inc. purchased a new stake in Tompkins Financial in the second quarter worth approximately $28,000. Trust Co. of Vermont bought a new position in Tompkins Financial during the second quarter valued at approximately $42,000. Finally, IFP Advisors Inc grew its position in Tompkins Financial by 59,550.0% during the fourth quarter. IFP Advisors Inc now owns 1,193 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 1,191 shares during 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.