Tompkins Financial (NYSEAMERICAN:TMP) Reaches New 12-Month High – Here’s Why

Shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) reached a new 52-week high during trading on Wednesday . The stock traded as high as $77.89 and last traded at $77.8160, with a volume of 11110 shares changing hands. The stock had previously closed at $75.01.

Analyst Ratings Changes

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

Tompkins Financial Price Performance

The firm has a market cap of $1.12 billion, a P/E ratio of 13.13 and a beta of 0.80. The firm’s fifty day simple moving average is $72.25 and its 200 day simple moving average is $68.56. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current 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 analysts’ consensus estimates of $1.70 by ($0.05). Tompkins Financial had a return on equity of 11.24% and a net margin of 18.24%.The firm had revenue of $87.44 million during the quarter, compared to analysts’ expectations of $87.00 million. As a group, analysts forecast that Tompkins Financial Corporation will post 5.46 earnings per share for the current year.

Tompkins Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were given a dividend of $0.65 per share. The ex-dividend date was Friday, November 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.62. Tompkins Financial’s dividend payout ratio is currently 52.53%.

Insiders Place Their Bets

In other Tompkins Financial news, Director Ita M. Rahilly purchased 1,463 shares of the firm’s stock in a transaction that occurred 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 $718,531.96. This trade represents a 16.17% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 4.50% of the company’s stock.

Institutional Trading of Tompkins Financial

A number of large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Tompkins Financial by 95.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 269 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Tompkins Financial in the 2nd quarter valued at approximately $151,000. Allworth Financial LP boosted its holdings in shares of Tompkins Financial by 3,207.7% in the 2nd quarter. Allworth Financial LP now owns 2,580 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 2,502 shares during the period. CWM LLC increased its position in shares of Tompkins Financial by 122.6% during the 3rd quarter. CWM LLC now owns 2,812 shares of the financial services provider’s stock valued at $186,000 after purchasing an additional 1,549 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in Tompkins Financial during the 3rd quarter valued at $212,000. 69.11% of the stock is currently owned by 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.