Tompkins Financial (NYSEAMERICAN:TMP) Reaches New 1-Year High – Here’s Why

Tompkins Financial Corporation (NYSEAMERICAN:TMP)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $94.36 and last traded at $94.3890, with a volume of 19008 shares. The stock had previously closed at $93.63.

Analyst Ratings Changes

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

Tompkins Financial Trading Up 0.7%

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 business’s fifty day simple moving average is $86.83 and its 200 day simple moving average is $81.01. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 8.08 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 for the quarter, topping analysts’ consensus estimates of $1.71 by $0.11. Tompkins Financial had a net margin of 28.93% and a return on equity of 11.27%. The company had revenue of $83.69 million for the quarter, compared to analysts’ expectations of $83.64 million. On average, research analysts predict that Tompkins Financial Corporation will post 7.55 EPS for the current year.

Tompkins Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a $0.67 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $2.68 annualized dividend and a dividend yield of 2.8%. Tompkins Financial’s dividend payout ratio (DPR) is 54.14%.

Insider Activity

In other news, Director Ita M. Rahilly purchased 1,164 shares of the stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average price of $85.90 per share, for a total transaction of $99,987.60. Following the completion of the transaction, the director owned 11,849 shares of the company’s stock, valued at approximately $1,017,829.10. The trade was a 10.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.52% of the company’s stock.

Hedge Funds Weigh In On Tompkins Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its holdings in shares of Tompkins Financial by 95.4% during the third quarter. EverSource Wealth Advisors LLC now owns 551 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 269 shares during the period. IFP Advisors Inc raised its stake in shares of Tompkins Financial by 59,550.0% in the 4th quarter. IFP Advisors Inc now owns 1,193 shares of the financial services provider’s stock worth $87,000 after buying an additional 1,191 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Tompkins Financial in the fourth quarter valued at $118,000. Quantbot Technologies LP acquired a new stake in shares of Tompkins Financial in the second quarter valued at $151,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in Tompkins Financial in the 4th quarter valued at about $171,000. 69.11% of the stock is 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.