15,106 Shares in Tompkins Financial Corporation $TMP Acquired by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 15,106 shares of Tompkins Financial in the second quarter, worth approximately $1.43 million. Institutional investors collectively own 69.11% of the company.
• Tompkins Financial exceeded quarterly earnings expectations, reporting $2.04 EPS versus the $1.82 consensus estimate and revenue of $87.12 million. Analysts maintain a consensus “Hold” rating with a $104.50 target price.
• The company increased its quarterly dividend from $0.67 to $0.70 per share, equivalent to an annualized $2.80 dividend and a 2.9% yield.

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 15,106 shares of the financial services provider's stock, valued at approximately $1,428,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of Tompkins Financial as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Tompkins Financial in the 2nd quarter valued at $27,000. Bard Associates Inc. acquired a new stake in shares of Tompkins Financial during the 2nd quarter worth about $28,000. Trust Co. of Vermont purchased a new stake in Tompkins Financial in the 2nd quarter valued at about $42,000. IFP Advisors Inc raised its holdings in Tompkins Financial by 59,550.0% in the 4th quarter. IFP Advisors Inc now owns 1,193 shares of the financial services provider's stock valued at $87,000 after buying an additional 1,191 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in Tompkins Financial in the second quarter valued at about $96,000. Hedge funds and other institutional investors own 69.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on TMP shares. Keefe, Bruyette & Woods increased their target price on shares of Tompkins Financial from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Piper Sandler boosted their price target on shares of Tompkins Financial from $87.00 to $104.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Tompkins Financial currently has a consensus rating of "Hold" and a consensus target price of $104.50.

Tompkins Financial Price Performance

TMP stock opened at $97.80 on Friday. The business's fifty day moving average price is $96.39 and its 200 day moving average price is $87.40. Tompkins Financial Corporation has a 12-month low of $61.88 and a 12-month high of $102.58. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.41 billion, a PE ratio of 8.01 and a beta of 0.74.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.82 by $0.22. The company had revenue of $87.12 million for 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%. On average, sell-side analysts anticipate that Tompkins Financial Corporation will post 7.75 EPS for the current year.

Tompkins Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Tompkins Financial's previous quarterly dividend of $0.67. The ex-dividend date was Friday, August 7th. Tompkins Financial's dividend payout ratio (DPR) is presently 56.57%.

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.

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