Tompkins Financial (NYSEAMERICAN:TMP) Trading Down 0.5% – What’s Next?

Tompkins Financial Corporation (NYSEAMERICAN:TMP)’s stock price dropped 0.5% during mid-day trading on Tuesday . The stock traded as low as $72.30 and last traded at $73.01. Approximately 56,557 shares traded hands during trading, a decline of 2% from the average daily volume of 57,584 shares. The stock had previously closed at $73.39.

Analysts Set New Price Targets

TMP has been the topic of several analyst reports. Zacks Research upgraded 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 set a “neutral” rating and a $74.00 price objective for the company. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $74.00.

Tompkins Financial Stock Performance

The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 12.40 and a beta of 0.80. The company’s fifty day simple moving average is $70.47 and its two-hundred day simple moving average is $67.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its earnings results on Friday, October 24th. The financial services provider reported $1.65 EPS for the quarter, missing the consensus estimate of $1.70 by ($0.05). Tompkins Financial had a return on equity of 11.24% and a net margin of 18.24%.The business had revenue of $87.44 million for the quarter, compared to the consensus estimate of $87.00 million. On average, 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 declared a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, November 7th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 3.6%. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, November 7th. Tompkins Financial’s dividend payout ratio is currently 52.53%.

Insiders Place Their Bets

In related news, Director Ita M. Rahilly acquired 1,463 shares of the company’s stock in a transaction on Friday, November 21st. The shares were acquired at an average cost of $68.36 per share, for a total transaction of $100,010.68. Following the purchase, the director owned 10,511 shares in the company, valued at approximately $718,531.96. The trade was a 16.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TMP. State of Alaska Department of Revenue raised its stake in Tompkins Financial by 7.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,455 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 496 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Tompkins Financial by 663.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 40,517 shares of the financial services provider’s stock worth $2,552,000 after buying an additional 35,207 shares during the period. Geode Capital Management LLC grew its stake in Tompkins Financial by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 310,539 shares of the financial services provider’s stock valued at $19,481,000 after buying an additional 11,455 shares in the last quarter. Allworth Financial LP raised its holdings in Tompkins Financial by 3,207.7% during the 2nd quarter. Allworth Financial LP now owns 2,580 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 2,502 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Tompkins Financial during the second quarter worth $202,000. Hedge funds and other institutional investors 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.