BlackRock Inc. Makes New $193.74 Million Investment in Tompkins Financial Corporation $TMP

BlackRock Inc. purchased a new stake in Tompkins Financial Corporation (NYSEAMERICAN:TMP) during the 2nd quarter, HoldingsChannel reports. The fund purchased 2,049,724 shares of the financial services provider’s stock, valued at approximately $193,740,000. BlackRock Inc. owned about 0.14% of Tompkins Financial as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC increased its stake in Tompkins Financial by 34.0% in the first quarter. SG Americas Securities LLC now owns 36,417 shares of the financial services provider’s stock valued at $2,871,000 after acquiring an additional 9,249 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Tompkins Financial during the first quarter worth about $1,611,000. Hillsdale Investment Management Inc. purchased a new position in shares of Tompkins Financial in the 1st quarter worth about $7,340,000. Vanguard Group Inc. boosted its holdings in shares of Tompkins Financial by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 1,385,961 shares of the financial services provider’s stock worth $100,510,000 after purchasing an additional 15,227 shares in the last quarter. Finally, Rhino Investment Partners Inc increased its position in shares of Tompkins Financial by 88.5% during the 1st quarter. Rhino Investment Partners Inc now owns 166,941 shares of the financial services provider’s stock valued at $13,162,000 after purchasing an additional 78,391 shares during the last quarter. Institutional investors own 69.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TMP. Piper Sandler raised their price objective on Tompkins Financial from $87.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods upped their target price on Tompkins Financial from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $104.50.

Tompkins Financial Stock Performance

Tompkins Financial stock opened at $97.36 on Friday. The firm has a fifty day simple moving average of $96.22 and a two-hundred day simple moving average of $87.32. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. Tompkins Financial Corporation has a twelve month low of $61.88 and a twelve month high of $102.58. The company has a market capitalization of $1.40 billion, a PE ratio of 7.97 and a beta of 0.74.

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

Tompkins Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were paid a $0.70 dividend. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, August 7th. This represents a $2.80 dividend on an annualized basis and a yield of 2.9%. Tompkins Financial’s payout ratio is presently 56.57%.

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.