Tompkins Financial (NYSEAMERICAN:TMP) Reaches New 52-Week High – Still a Buy?

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

Analyst Ratings Changes

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

Tompkins Financial Trading Down 4.7%

The stock has a fifty day moving average of $72.71 and a 200-day moving average of $68.71. The company has a market cap of $1.09 billion, a PE ratio of 12.80 and a beta of 0.80. 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 released its earnings results on Friday, October 24th. The financial services provider reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.70 by ($0.05). The business had revenue of $87.44 million for the quarter, compared to the consensus estimate of $87.00 million. Tompkins Financial had a return on equity of 11.24% and a net margin of 18.24%. Sell-side analysts anticipate that Tompkins Financial Corporation will post 5.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ita M. Rahilly acquired 1,463 shares of the company’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 Securities & Exchange Commission, which is available at this hyperlink. 2.94% of the stock is owned by insiders.

Hedge Funds Weigh In On Tompkins Financial

A number of large investors have recently added to or reduced their stakes in TMP. EverSource Wealth Advisors LLC grew its position 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 worth $36,000 after buying an additional 269 shares during the last quarter. Quantbot Technologies LP purchased a new position in Tompkins Financial in the second quarter worth $151,000. Allworth Financial LP increased its position in shares of Tompkins Financial by 3,207.7% during the second 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 in the last quarter. CWM LLC grew its stake in Tompkins Financial by 122.6% during the 3rd quarter. CWM LLC now owns 2,812 shares of the financial services provider’s stock worth $186,000 after buying an additional 1,549 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Tompkins Financial during the 2nd quarter valued at about $202,000. 69.11% of the stock is currently owned by institutional investors.

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.