Tompkins Financial (NYSEAMERICAN:TMP) Reaches New 1-Year High – Still a Buy?

Tompkins Financial Corporation (NYSEAMERICAN:TMP)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $77.89 and last traded at $77.8160, with a volume of 11110 shares traded. The stock had previously closed at $75.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TMP shares. Piper Sandler initiated coverage on shares of Tompkins Financial in a research report on Wednesday, December 3rd. They set a “neutral” rating and a $74.00 target price on the stock. Zacks Research upgraded Tompkins Financial to a “hold” rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Tompkins Financial presently has an average rating of “Hold” and an average price target of $74.00.

Tompkins Financial Price Performance

The business’s 50 day moving average is $72.25 and its two-hundred day moving average is $68.56. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market capitalization of $1.12 billion, a PE ratio of 13.13 and a beta of 0.80.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its earnings results on Friday, October 24th. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.05). The company had revenue of $87.44 million for the quarter, compared to analysts’ expectations of $87.00 million. Tompkins Financial had a return on equity of 11.24% and a net margin of 18.24%. Equities research analysts anticipate that Tompkins Financial Corporation will post 5.46 earnings per share for the current fiscal year.

Tompkins Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, November 7th were given a dividend of $0.65 per share. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.62. This represents a $2.60 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, November 7th. Tompkins Financial’s dividend payout ratio (DPR) is currently 52.53%.

Insider Activity at Tompkins Financial

In other news, Director Ita M. Rahilly acquired 1,463 shares of Tompkins Financial stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average price of $68.36 per share, with a total value of $100,010.68. Following the completion of the purchase, the director owned 10,511 shares in the company, valued at approximately $718,531.96. The trade was a 16.17% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its position in Tompkins Financial by 95.9% during the second quarter. Invesco Ltd. now owns 98,191 shares of the financial services provider’s stock valued at $6,160,000 after purchasing an additional 48,064 shares in the last quarter. LSV Asset Management purchased a new position in shares of Tompkins Financial during the 2nd quarter valued at about $1,704,000. AQR Capital Management LLC lifted its position in Tompkins Financial by 207.4% in the 1st quarter. AQR Capital Management LLC now owns 35,941 shares of the financial services provider’s stock worth $2,264,000 after buying an additional 24,249 shares during the last quarter. Jane Street Group LLC boosted its stake in Tompkins Financial by 290.9% in the first quarter. Jane Street Group LLC now owns 24,706 shares of the financial services provider’s stock worth $1,556,000 after buying an additional 18,385 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Tompkins Financial during the second quarter valued at approximately $1,134,000. 69.11% of the stock is currently owned by hedge funds and other 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.