Tompkins Financial (NYSEAMERICAN:TMP) Hits New 12-Month High on Insider Buying Activity

Tompkins Financial Corporation (NYSEAMERICAN:TMP) shares hit a new 52-week high on Tuesday after an insider bought additional shares in the company. The company traded as high as $87.12 and last traded at $87.12, with a volume of 8117 shares. The stock had previously closed at $86.12.

Specifically, Director Ita M. Rahilly acquired 1,164 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average cost of $85.90 per share, for a total transaction of $99,987.60. Following the transaction, the director directly owned 11,849 shares in the company, valued at $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 is available through this link.

Analysts Set New Price Targets

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 report on Tuesday, April 28th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $87.00.

Tompkins Financial Trading Down 0.3%

The company has a market cap of $1.25 billion, a price-to-earnings ratio of 7.46 and a beta of 0.76. The firm has a 50 day moving average price of $82.23 and a two-hundred day moving average price of $77.66. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.47.

Tompkins Financial (NYSEAMERICAN:TMP) last issued its quarterly earnings results on Friday, April 24th. The financial services provider reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.11. The company had revenue of $83.70 million during the quarter, compared to analysts’ expectations of $83.64 million. Tompkins Financial had a return on equity of 11.27% and a net margin of 28.93%. As a group, equities analysts forecast that Tompkins Financial Corporation will post 7.55 earnings per share for the current year.

Tompkins Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid 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 3.1%. Tompkins Financial’s dividend payout ratio is presently 54.14%.

Institutional Investors Weigh In On Tompkins Financial

Several institutional investors and hedge funds have recently made changes to their positions in TMP. Royal Bank of Canada increased its stake in shares of Tompkins Financial by 37.2% in the first quarter. Royal Bank of Canada now owns 14,025 shares of the financial services provider’s stock valued at $883,000 after buying an additional 3,801 shares during the period. AQR Capital Management LLC increased its stake in shares of Tompkins Financial by 207.4% in the first quarter. AQR Capital Management LLC now owns 35,941 shares of the financial services provider’s stock valued at $2,264,000 after buying an additional 24,249 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Tompkins Financial by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,556 shares of the financial services provider’s stock valued at $476,000 after buying an additional 311 shares during the period. Jane Street Group LLC increased its stake in shares of 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 valued at $1,556,000 after buying an additional 18,385 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Tompkins Financial during the second quarter worth approximately $345,000. Institutional investors and hedge funds own 69.11% of the company’s stock.

Tompkins Financial Company Profile

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.