Tompkins Financial (NYSEAMERICAN:TMP) Issues Earnings Results, Beats Expectations By $0.01 EPS

Tompkins Financial (NYSEAMERICAN:TMP) announced its quarterly earnings results on Friday. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.01, FiscalAI reports. The firm had revenue of $257.30 million during the quarter, compared to the consensus estimate of $136.16 million. Tompkins Financial had a return on equity of 11.24% and a net margin of 18.24%.

Tompkins Financial Stock Up 2.7%

Shares of Tompkins Financial stock traded up $2.10 during midday trading on Friday, reaching $78.83. 33,148 shares of the company’s stock traded hands, compared to its average volume of 46,052. 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 has a 52 week low of $54.16 and a 52 week high of $80.36. The company’s 50 day simple moving average is $73.74 and its 200 day simple moving average is $69.02. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 13.38 and a beta of 0.80.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TMP shares. Piper Sandler assumed coverage on shares of Tompkins Financial in a research note on Wednesday, December 3rd. They set a “neutral” rating and a $74.00 price objective on the stock. Zacks Research upgraded shares of Tompkins Financial to a “hold” rating in a report on Thursday, December 4th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $74.00.

Insider Buying and Selling

In related news, Director Ita M. Rahilly bought 1,463 shares of the business’s stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $68.36 per share, for a total transaction of $100,010.68. Following the completion of the acquisition, the director directly owned 10,511 shares in the company, valued at approximately $718,531.96. This represents a 16.17% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.94% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TMP. Quantbot Technologies LP acquired a new stake in shares of Tompkins Financial in the second quarter valued at about $151,000. Raymond James Financial Inc. bought a new stake in Tompkins Financial during the 2nd quarter valued at approximately $204,000. Virtu Financial LLC acquired a new stake in Tompkins Financial in the 3rd quarter valued at approximately $224,000. Russell Investments Group Ltd. increased its position in Tompkins Financial by 47.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 3,489 shares of the financial services provider’s stock worth $231,000 after buying an additional 1,117 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Tompkins Financial by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 4,982 shares of the financial services provider’s stock worth $313,000 after buying an additional 378 shares during the last quarter. Institutional investors and hedge funds 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.