Principal Financial Group Inc. Has $4.06 Million Stock Position in Tompkins Financial Corporation $TMP

Principal Financial Group Inc. lessened its holdings in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) by 13.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,386 shares of the financial services provider’s stock after selling 9,508 shares during the quarter. Principal Financial Group Inc.’s holdings in Tompkins Financial were worth $4,064,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Allworth Financial LP increased its holdings in shares of Tompkins Financial by 3,207.7% in the second quarter. Allworth Financial LP now owns 2,580 shares of the financial services provider’s stock valued at $162,000 after purchasing an additional 2,502 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Tompkins Financial by 3.8% during the 2nd quarter. Geode Capital Management LLC now owns 310,539 shares of the financial services provider’s stock worth $19,481,000 after buying an additional 11,455 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Tompkins Financial during the 2nd quarter worth about $202,000. Dynamic Technology Lab Private Ltd acquired a new position in Tompkins Financial in the 2nd quarter valued at about $1,134,000. Finally, LSV Asset Management acquired a new position in Tompkins Financial in the 2nd quarter valued at about $1,704,000. Institutional investors own 69.11% of the company’s stock.

Tompkins Financial Stock Down 1.2%

Shares of TMP opened at $82.76 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.60. Tompkins Financial Corporation has a 12 month low of $54.16 and a 12 month high of $86.95. The firm’s 50 day moving average is $76.70 and its 200-day moving average is $70.47. The stock has a market capitalization of $1.19 billion, a PE ratio of 7.38 and a beta of 0.79.

Tompkins Financial (NYSEAMERICAN:TMP) last issued its quarterly earnings results on Friday, January 30th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.01. Tompkins Financial had a return on equity of 11.19% and a net margin of 27.82%.The business had revenue of $257.30 million during the quarter, compared to analysts’ expectations of $136.16 million. Equities research analysts forecast that Tompkins Financial Corporation will post 5.46 EPS for the current year.

Tompkins Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, February 22nd. Stockholders of record on Friday, February 13th will be issued a dividend of $0.67 per share. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.68 annualized dividend and a dividend yield of 3.2%. Tompkins Financial’s payout ratio is currently 54.14%.

Analysts Set New Price Targets

TMP has been the subject of several research reports. Zacks Research upgraded shares of Tompkins Financial to a “hold” rating in a research report on Thursday, December 4th. Piper Sandler assumed coverage on Tompkins Financial in a research note on Wednesday, December 3rd. They issued a “neutral” rating and a $74.00 price target for the company. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Tompkins Financial currently has a consensus rating of “Hold” and a consensus price target of $74.00.

Insider Activity at Tompkins Financial

In other news, Director Ita M. Rahilly acquired 1,463 shares of Tompkins Financial stock in a transaction on Friday, November 21st. The shares were purchased at an average cost of $68.36 per share, for a total transaction of $100,010.68. Following the completion of the purchase, the director directly owned 10,511 shares of the company’s stock, valued at approximately $718,531.96. This represents a 16.17% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.50% 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.