Ieq Capital LLC Buys New Stake in Tompkins Financial Corporation $TMP

Ieq Capital LLC bought a new stake in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,235 shares of the financial services provider’s stock, valued at approximately $873,000.

Several other institutional investors and hedge funds also recently modified their holdings of TMP. Royal Bank of Canada raised its stake in shares of Tompkins Financial by 37.2% during the first quarter. Royal Bank of Canada now owns 14,025 shares of the financial services provider’s stock valued at $883,000 after purchasing an additional 3,801 shares in the last quarter. AQR Capital Management LLC grew 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 valued at $2,264,000 after buying an additional 24,249 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Tompkins Financial by 4.3% during the 1st 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 raised its position in shares of Tompkins Financial by 290.9% during the 1st 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, Hsbc Holdings PLC bought a new stake in shares of Tompkins Financial during the 2nd quarter worth about $345,000. Institutional investors own 69.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TMP. Piper Sandler increased their price objective 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 upped their target price on Tompkins Financial from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tompkins Financial has a consensus rating of “Hold” and an average target price of $104.50.

Tompkins Financial Price Performance

NYSEAMERICAN:TMP opened at $97.36 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. The business’s 50-day moving average price is $96.22 and its 200 day moving average price is $87.32. Tompkins Financial Corporation has a 52-week low of $61.88 and a 52-week high of $102.58. The firm has a market cap of $1.40 billion, a P/E ratio of 7.97 and a beta of 0.74.

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

Tompkins Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were issued a dividend of $0.70 per share. The ex-dividend date was Friday, August 7th. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a yield of 2.9%. Tompkins Financial’s payout ratio is 56.57%.

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.