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

Shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) saw strong trading volume on Monday . Approximately 67,194 shares changed hands during trading, a decline of 9% from the previous session’s volume of 73,677 shares.The stock last traded at $98.0790 and had previously closed at $98.73.

Analysts Set New Price Targets

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

Tompkins Financial Stock Performance

The company has a market capitalization of $1.43 billion, a PE ratio of 8.12 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. The firm’s 50-day simple moving average is $93.84 and its 200-day simple moving average is $85.70.

Tompkins Financial (NYSEAMERICAN:TMP) last issued its earnings results on Friday, July 24th. The financial services provider reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.22. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. The business had revenue of $87.12 million for the quarter, compared to the consensus estimate of $86.93 million. On average, research analysts predict that Tompkins Financial Corporation will post 7.75 earnings per share for the current year.

Tompkins Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.8%. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, August 7th. Tompkins Financial’s payout ratio is currently 56.57%.

Insider Buying and Selling

In other news, Director Ita M. Rahilly bought 1,164 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $85.90 per share, with a total value of $99,987.60. Following the transaction, the director directly owned 11,849 shares in the company, valued at approximately $1,017,829.10. This trade represents a 10.89% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.52% of the stock is owned by insiders.

Hedge Funds Weigh In On Tompkins Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in TMP. Bard Associates Inc. bought a new stake in shares of Tompkins Financial in the second quarter valued at about $28,000. Trust Co. of Vermont bought a new position in Tompkins Financial during the 2nd quarter worth about $42,000. IFP Advisors Inc grew its holdings in Tompkins Financial by 59,550.0% during the 4th quarter. IFP Advisors Inc now owns 1,193 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 1,191 shares in the last quarter. Global Retirement Partners LLC purchased a new position in Tompkins Financial during the 2nd quarter valued at about $96,000. Finally, Kestra Advisory Services LLC purchased a new position in Tompkins Financial during the 4th quarter valued at about $118,000. 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.