Tompkins Financial (NYSEAMERICAN:TMP) Stock Passes Above 50-Day Moving Average – Should You Sell?

Tompkins Financial Corporation (NYSEAMERICAN:TMP)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $95.58 and traded as high as $98.55. Tompkins Financial shares last traded at $97.91, with a volume of 157,751 shares traded.

Wall Street Analysts Forecast Growth

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

Tompkins Financial Stock Up 0.8%

The business’s 50 day simple moving average is $95.58 and its 200 day simple moving average is $86.89. 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 has a market capitalization of $1.41 billion, a PE ratio of 8.02 and a beta of 0.74.

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

Tompkins Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.9%. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.67. The ex-dividend date was Friday, August 7th. Tompkins Financial’s dividend payout ratio (DPR) is currently 56.57%.

Insider Activity

In related news, Director Ita M. Rahilly bought 1,164 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $85.90 per share, for a total transaction of $99,987.60. Following the acquisition, the director owned 11,849 shares in the company, valued at $1,017,829.10. This trade represents a 10.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.52% of the stock is owned by insiders.

Institutional Trading of Tompkins Financial

Several hedge funds and other institutional investors have recently bought and sold shares of TMP. Royal Bank of Canada increased its position in Tompkins Financial by 37.2% during the first quarter. Royal Bank of Canada now owns 14,025 shares of the financial services provider’s stock valued at $883,000 after acquiring an additional 3,801 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Tompkins Financial by 207.4% during the 1st quarter. AQR Capital Management LLC now owns 35,941 shares of the financial services provider’s stock worth $2,264,000 after purchasing an additional 24,249 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Tompkins Financial by 4.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,556 shares of the financial services provider’s stock valued at $476,000 after purchasing an additional 311 shares during the last quarter. Jane Street Group LLC lifted its stake in Tompkins Financial by 290.9% in the first quarter. Jane Street Group LLC now owns 24,706 shares of the financial services provider’s stock worth $1,556,000 after purchasing an additional 18,385 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Tompkins Financial in the second quarter worth approximately $345,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.

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.