Tompkins Financial (NYSEAMERICAN:TMP) Sets New 12-Month High – Here’s What Happened

Tompkins Financial Corporation (NYSEAMERICAN:TMP) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $86.95 and last traded at $85.31, with a volume of 251276 shares changing hands. The stock had previously closed at $85.18.

Wall Street Analyst Weigh In

TMP has been the topic of a number of recent research reports. Zacks Research upgraded shares of Tompkins Financial to a “hold” rating in a report on Thursday, December 4th. Piper Sandler initiated coverage on shares of Tompkins Financial in a research report on Wednesday, December 3rd. They issued a “neutral” rating and a $74.00 price objective for the company. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $74.00.

Tompkins Financial Stock Performance

The firm has a market cap of $1.23 billion, a PE ratio of 7.60 and a beta of 0.79. The stock has a 50-day moving average price of $75.98 and a 200 day moving average price of $70.12. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.95 and a quick ratio of 0.95.

Tompkins Financial (NYSEAMERICAN:TMP) last released its earnings results on Friday, January 30th. The financial services provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.01. The firm had revenue of $257.30 million for the quarter, compared to the consensus estimate of $136.16 million. Tompkins Financial had a return on equity of 11.19% and a net margin of 27.82%. Research analysts forecast that Tompkins Financial Corporation will post 5.46 earnings per share for the current year.

Tompkins Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, February 22nd. Investors of record on Friday, February 13th will be issued a $0.67 dividend. The ex-dividend date is Friday, February 13th. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.65. This represents a $2.68 dividend on an annualized basis and a yield of 3.1%. Tompkins Financial’s payout ratio is presently 52.53%.

Insider Buying and Selling

In related news, Director Ita M. Rahilly purchased 1,463 shares of the business’s stock in a transaction on Friday, November 21st. The shares were bought at an average price of $68.36 per share, with a total value of $100,010.68. Following the completion of the purchase, the director directly owned 10,511 shares in the company, valued at approximately $718,531.96. This trade represents a 16.17% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 4.50% of the company’s stock.

Institutional Trading of Tompkins Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. lifted its position in Tompkins Financial by 95.9% during the second quarter. Invesco Ltd. now owns 98,191 shares of the financial services provider’s stock valued at $6,160,000 after buying an additional 48,064 shares in the last quarter. Goldman Sachs Group Inc. raised 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 acquiring an additional 31,171 shares during the period. LSV Asset Management acquired a new position in shares of Tompkins Financial during the 2nd quarter valued at $1,704,000. AQR Capital Management LLC lifted its holdings in shares of Tompkins Financial by 207.4% during the 1st quarter. AQR Capital Management LLC now owns 35,941 shares of the financial services provider’s stock valued at $2,264,000 after acquiring an additional 24,249 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Tompkins Financial by 290.9% during the 1st quarter. Jane Street Group LLC now owns 24,706 shares of the financial services provider’s stock worth $1,556,000 after purchasing an additional 18,385 shares during the period. Institutional investors and hedge funds own 69.11% of the company’s stock.

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.