Tompkins Financial (NYSEAMERICAN:TMP) Hits New 12-Month High – Here’s Why

Shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $88.00 and last traded at $87.7010, with a volume of 67679 shares trading hands. The stock had previously closed at $86.72.

Wall Street Analyst Weigh In

Separately, Piper Sandler restated a “neutral” rating and issued a $87.00 price objective (up from $82.00) on shares of Tompkins Financial in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $87.00.

Tompkins Financial Price Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 0.94 and a quick ratio of 0.94. The firm’s 50 day moving average is $83.77 and its 200 day moving average is $78.49. The firm has a market cap of $1.26 billion, a P/E ratio of 7.49 and a beta of 0.75.

Tompkins Financial (NYSEAMERICAN:TMP) last issued its earnings results on Friday, April 24th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.11. The firm had revenue of $83.70 million for the quarter, compared to the consensus estimate of $83.64 million. Tompkins Financial had a net margin of 28.93% and a return on equity of 11.27%. As a group, analysts anticipate that Tompkins Financial Corporation will post 7.55 earnings per share for the current year.

Tompkins Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, May 8th. Tompkins Financial’s dividend payout ratio is currently 54.14%.

Insider Activity

In other news, Director Ita M. Rahilly bought 1,164 shares of the company’s stock in a transaction dated 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 purchase, the director owned 11,849 shares in the company, valued at approximately $1,017,829.10. This represents a 10.89% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.52% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Tompkins Financial by 1.1% in 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 lifted its stake in shares of Tompkins Financial by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 316,607 shares of the financial services provider’s stock worth $22,962,000 after buying an additional 4,673 shares in the last quarter. Rhino Investment Partners Inc lifted its stake in shares of Tompkins Financial by 88.5% in the first quarter. Rhino Investment Partners Inc now owns 166,941 shares of the financial services provider’s stock worth $13,162,000 after buying an additional 78,391 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Tompkins Financial by 6.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 118,739 shares of the financial services provider’s stock worth $7,862,000 after buying an additional 7,674 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Tompkins Financial by 43.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 102,891 shares of the financial services provider’s stock valued at $7,462,000 after purchasing an additional 31,171 shares during the last quarter. Institutional investors 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.