Tompkins Financial (NYSEAMERICAN:TMP) Hits New 12-Month High – What’s Next?

Tompkins Financial Corporation (NYSEAMERICAN:TMP) reached a new 52-week high on Friday . The stock traded as high as $102.15 and last traded at $101.7090, with a volume of 30380 shares changing hands. The stock had previously closed at $101.13.

Analysts Set New Price Targets

Several equities analysts recently commented on TMP shares. Piper Sandler upped their price target on shares of 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 boosted their target price on Tompkins Financial from $98.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Tompkins Financial presently has an average rating of “Hold” and a consensus price target of $104.50.

Tompkins Financial Trading Down 0.1%

The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $1.45 billion, a P/E ratio of 8.27 and a beta of 0.74. The company’s fifty day simple moving average is $94.47 and its 200-day simple moving average is $86.03.

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

Tompkins Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, August 7th. Tompkins Financial’s payout ratio is presently 56.57%.

Insiders Place Their Bets

In related news, Director Ita M. Rahilly bought 1,164 shares of the stock in a transaction on Tuesday, May 26th. The stock was bought at an average price of $85.90 per share, for a total transaction of $99,987.60. Following the completion of the acquisition, the director directly owned 11,849 shares in the company, valued at approximately $1,017,829.10. This represents a 10.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.52% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in shares of Tompkins Financial during the 2nd quarter worth $193,740,000. Bank of New York Mellon Corp purchased a new position in Tompkins Financial in the second quarter valued at about $11,459,000. Hillsdale Investment Management Inc. purchased a new position in Tompkins Financial in the first quarter valued at about $7,340,000. Rhino Investment Partners Inc raised its holdings 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 worth $13,162,000 after purchasing an additional 78,391 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Tompkins Financial during the fourth quarter valued at about $4,351,000. 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.