Lazard Asset Management LLC Makes New Investment in Tompkins Financial Corporation $TMP

Lazard Asset Management LLC bought a new position in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,434 shares of the financial services provider’s stock, valued at approximately $1,611,000. Lazard Asset Management LLC owned 0.14% of Tompkins Financial at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Tompkins Financial by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 1,385,961 shares of the financial services provider’s stock worth $100,510,000 after buying an additional 15,227 shares in the last quarter. Geode Capital Management LLC raised its holdings in Tompkins Financial by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 316,607 shares of the financial services provider’s stock valued at $22,962,000 after acquiring an additional 4,673 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Tompkins Financial by 6.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 118,739 shares of the financial services provider’s stock valued at $7,862,000 after acquiring an additional 7,674 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Tompkins Financial by 43.5% during 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. Finally, Invesco Ltd. lifted its position in shares of Tompkins Financial by 95.9% during the 2nd quarter. Invesco Ltd. now owns 98,191 shares of the financial services provider’s stock valued at $6,160,000 after acquiring an additional 48,064 shares during the period. 69.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TMP. 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 report on Monday, July 27th. Piper Sandler upped their price objective on shares of Tompkins Financial from $87.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $104.50.

Tompkins Financial Stock Up 1.1%

Shares of TMP opened at $100.92 on Tuesday. The firm has a 50 day simple moving average of $92.25 and a two-hundred day simple moving average of $84.71. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95. Tompkins Financial Corporation has a one year low of $61.21 and a one year high of $102.02. The company has a market cap of $1.45 billion, a P/E ratio of 8.27 and a beta of 0.74.

Tompkins Financial (NYSEAMERICAN:TMP) last issued its earnings results on Friday, July 24th. The financial services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.22. Tompkins Financial had a return on equity of 11.52% and a net margin of 30.13%.The firm had revenue of $87.12 million for the quarter, compared to the consensus estimate of $86.93 million. Research analysts forecast that Tompkins Financial Corporation will post 7.55 EPS for the current fiscal year.

Tompkins Financial Increases Dividend

The firm 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 a boost 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 54.14%.

Insider Transactions at Tompkins Financial

In other Tompkins Financial news, Director Ita M. Rahilly bought 1,164 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $85.90 per share, for a total transaction of $99,987.60. Following the completion of the transaction, the director directly owned 11,849 shares in the company, valued at approximately $1,017,829.10. The trade was a 10.89% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.52% of the stock is currently owned by corporate insiders.

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.