Tompkins Financial Corporation (NYSEAMERICAN:TMP) Plans Quarterly Dividend of $0.74

Key Points

• Tompkins Financial raised its quarterly dividend 5.7% to $0.74 per share, payable November 13 to shareholders of record November 6. The dividend implies an annualized payout of $2.96 and a 2.9% yield.
• The company’s dividend appears well covered, with a 38.6% payout ratio and analysts expecting next year’s earnings to support an estimated 30.2% payout ratio.
• Tompkins Financial reported quarterly EPS of $2.00, beating estimates of $1.95, while revenue of $89.85 million slightly exceeded expectations. Shares rose 0.4% to $101.20, near the stock’s 52-week high.

Tompkins Financial Corporation (NYSEAMERICAN:TMP - Get Free Report) declared a quarterly dividend on Friday, October 23rd. Stockholders of record on Friday, November 6th will be paid a dividend of $0.74 per share by the financial services provider on Friday, November 13th. This represents a $2.96 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, November 6th. This is a 5.7% increase from Tompkins Financial's previous quarterly dividend of $0.70.

Tompkins Financial has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tompkins Financial to earn $8.20 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 30.2%.

Tompkins Financial Trading Up 0.4%

Shares of TMP traded up $0.42 during trading hours on Friday, reaching $101.20. The stock had a trading volume of 142,929 shares, compared to its average volume of 82,788. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. Tompkins Financial has a 52 week low of $62.98 and a 52 week high of $102.80. The firm has a 50-day moving average of $97.95 and a 200 day moving average of $92.76. The company has a market cap of $1.46 billion, a P/E ratio of 8.29 and a beta of 0.76.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last issued its quarterly earnings data on Friday, October 23rd. The financial services provider reported $2.00 EPS for the quarter, topping the consensus estimate of $1.95 by $0.05. The business had revenue of $89.85 million for the quarter, compared to the consensus estimate of $89.65 million. Tompkins Financial had a return on equity of 11.52% and a net margin of 30.13%. On average, sell-side analysts expect that Tompkins Financial will post 7.75 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tompkins Financial

Several large investors have recently made changes to their positions in the stock. Nykredit A S bought a new stake in Tompkins Financial in the 2nd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. bought a new position in Tompkins Financial during the 2nd quarter worth about $27,000. Bard Associates Inc. bought a new position in Tompkins Financial during the 2nd quarter worth about $28,000. Trust Co. of Vermont acquired a new stake in shares of Tompkins Financial in the 2nd quarter valued at about $42,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Tompkins Financial in the 2nd quarter valued at about $51,000. 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.

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