Tompkins Financial (NYSEAMERICAN:TMP) Reaches New 52-Week High – Here’s What Happened

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

Analyst Ratings Changes

A number of research firms have commented on TMP. Zacks Research raised shares of Tompkins Financial to a “hold” rating in a research report on Thursday, December 4th. Piper Sandler initiated coverage on shares of Tompkins Financial in a report on Wednesday, December 3rd. They set a “neutral” rating and a $74.00 price objective on the stock. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $74.00.

Tompkins Financial Stock Down 0.9%

The business’s fifty day moving average price is $76.48 and its two-hundred day moving average price is $70.31. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $1.21 billion, a P/E ratio of 7.47 and a beta of 0.79.

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

Tompkins Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, February 22nd. Stockholders of record on Friday, February 13th will be issued a dividend of $0.67 per share. The ex-dividend date is Friday, February 13th. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.65. Tompkins Financial’s dividend payout ratio (DPR) is currently 52.53%.

Insiders Place Their Bets

In other Tompkins Financial news, Director Ita M. Rahilly bought 1,463 shares of Tompkins Financial stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average cost of $68.36 per share, with a total value of $100,010.68. Following the transaction, the director directly owned 10,511 shares of the company’s stock, valued at approximately $718,531.96. This represents a 16.17% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.94% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tompkins Financial

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Tompkins Financial by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 1,385,961 shares of the financial services provider’s stock worth $100,510,000 after acquiring an additional 15,227 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tompkins Financial by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 316,607 shares of the financial services provider’s stock valued at $22,962,000 after purchasing an additional 4,673 shares during the period. American Century Companies Inc. raised its stake in shares of Tompkins Financial by 1.8% in the second quarter. American Century Companies Inc. now owns 144,120 shares of the financial services provider’s stock worth $9,041,000 after purchasing an additional 2,489 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Tompkins Financial by 6.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 118,739 shares of the financial services provider’s stock worth $7,862,000 after purchasing an additional 7,674 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Tompkins Financial by 43.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 102,891 shares of the financial services provider’s stock valued at $7,462,000 after buying an additional 31,171 shares during the last quarter. 69.11% of the stock is owned by institutional investors and hedge funds.

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.