Tompkins Financial Corporation (NYSEAMERICAN:TMP) Declares Dividend Increase – $0.74 Per Share

Tompkins Financial Corporation (NYSEAMERICAN:TMP) announced a quarterly dividend on Friday, October 23rd. Shareholders of record on Friday, November 6th will be given a dividend of $0.74 per share by the financial services provider on Friday, November 13th. This represents a $2.96 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 6th. This is a 5.7% increase from Tompkins Financial’s previous quarterly dividend of $0.70.

Tompkins Financial has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tompkins Financial to earn $8.20 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 30.2%.

Tompkins Financial Stock Up 0.4%

NYSEAMERICAN:TMP traded up $0.42 during trading hours on Friday, reaching $101.20. 142,929 shares of the stock were exchanged, compared to its average volume of 82,788. Tompkins Financial has a twelve month low of $62.98 and a twelve month high of $102.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50 day moving average of $97.95 and a 200 day moving average of $92.76. The stock has a market cap of $1.46 billion, a PE ratio of 8.29 and a beta of 0.76.

Tompkins Financial (NYSEAMERICAN:TMP) last issued its quarterly earnings results on Friday, October 23rd. The financial services provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.05. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. The company had revenue of $89.85 million during the quarter, compared to analysts’ expectations of $89.65 million. On average, equities analysts expect that Tompkins Financial will post 7.75 earnings per share for the current year.

Institutional Trading of Tompkins Financial

Several institutional investors and hedge funds have recently bought and sold shares of TMP. BlackRock Inc. bought a new stake in Tompkins Financial during the second quarter worth about $193,740,000. Rhino Investment Partners Inc grew its stake in 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 valued at $13,162,000 after purchasing an additional 78,391 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Tompkins Financial in the second quarter valued at approximately $11,459,000. Hillsdale Investment Management Inc. acquired a new position in shares of Tompkins Financial during the 1st quarter worth approximately $7,340,000. Finally, Bank of America Corp DE acquired a new position in shares of Tompkins Financial during the 2nd quarter worth approximately $5,636,000. Institutional investors own 69.11% of the company’s stock.

Tompkins Financial Company Profile

Tompkins Financial Corporation is a financial services holding company headquartered in Ithaca, New York. Through its subsidiaries, the company provides banking, insurance and wealth-management services to individuals, families, businesses and municipal organizations.

Its banking operations are conducted primarily through Tompkins Community Bank, which offers deposit accounts, residential and commercial lending, mortgages, cash-management services, online banking and other financial products.