Tompkins Financial (NYSEAMERICAN:TMP) Hits New 12-Month High – Time to Buy?

Tompkins Financial Corporation (NYSEAMERICAN:TMP) shares reached a new 52-week high during trading on Wednesday. The stock traded as high as $105.00 and last traded at $102.5460, with a volume of 19,097 shares trading hands. The stock had previously closed at $99.73.

Wall Street Analysts Forecast Growth

TMP has been the topic of a number of recent analyst reports. Piper Sandler upped their price objective on Tompkins Financial from $87.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods raised their target price on Tompkins Financial from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, July 27th. One research 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, the company currently has an average rating of “Hold” and a consensus target price of $104.50.

Tompkins Financial Trading Up 2.9%

The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 8.17 and a beta of 0.77. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.95 and a current ratio of 0.94. The business has a fifty day moving average of $98.31 and a two-hundred day moving average of $89.26.

Tompkins Financial (NYSEAMERICAN:TMP) last issued its quarterly earnings data on Friday, October 23rd. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.05. The firm had revenue of $89.85 million during the quarter, compared to analysts’ expectations of $89.65 million. Tompkins Financial had a return on equity of 11.59% and a net margin of 30.94%. As a group, equities analysts expect that Tompkins Financial Corporation will post 7.75 earnings per share for the current fiscal year.

Tompkins Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 6th will be given a $0.74 dividend. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.70. This represents a $2.96 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, November 6th. Tompkins Financial’s dividend payout ratio (DPR) is 56.57%.

Institutional Trading of Tompkins Financial

Several institutional investors and hedge funds have recently modified their holdings of TMP. BlackRock Inc. purchased a new stake in Tompkins Financial in the 2nd quarter valued at approximately $193,740,000. Rhino Investment Partners Inc grew its holdings in Tompkins Financial by 88.5% in 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 buying an additional 78,391 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Tompkins Financial during the 2nd quarter valued at about $11,459,000. ProShare Advisors LLC increased its stake in shares of Tompkins Financial by 43.3% during the 3rd quarter. ProShare Advisors LLC now owns 107,578 shares of the financial services provider’s stock valued at $10,354,000 after acquiring an additional 32,521 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Tompkins Financial during the 1st quarter worth about $7,340,000. Hedge funds and other 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.