59,626 Shares in Tompkins Financial Corporation $TMP Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 59,626 shares of Tompkins Financial in the second quarter, worth approximately $5.64 million and representing 0.41% of the company. Institutional investors and hedge funds collectively own 69.11% of TMP.
• Tompkins Financial exceeded quarterly earnings expectations, reporting $2.04 EPS versus the $1.82 consensus estimate and revenue of $87.12 million. Analysts project full-year EPS of $7.75.
• The company increased its quarterly dividend from $0.67 to $0.70 per share, equivalent to $2.80 annually and a 2.8% yield. Analyst sentiment remains generally neutral, with a consensus “Hold” rating and a $104.50 price target.

Bank of America Corp DE purchased a new stake in Tompkins Financial Corporation (NYSEAMERICAN:TMP - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 59,626 shares of the financial services provider's stock, valued at approximately $5,636,000. Bank of America Corp DE owned 0.41% of Tompkins Financial at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TMP. Chicago Partners Investment Group LLC increased its position in Tompkins Financial by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 11,697 shares of the financial services provider's stock worth $978,000 after acquiring an additional 133 shares during the period. WINTON GROUP Ltd boosted its holdings in Tompkins Financial by 1.1% in the 4th quarter. WINTON GROUP Ltd now owns 19,263 shares of the financial services provider's stock valued at $1,397,000 after purchasing an additional 206 shares during the period. Illinois Municipal Retirement Fund boosted its holdings in Tompkins Financial by 4.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 6,750 shares of the financial services provider's stock valued at $532,000 after purchasing an additional 279 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Tompkins Financial during the 2nd quarter worth approximately $27,000. Finally, Bard Associates Inc. acquired a new position in shares of Tompkins Financial during the 2nd quarter worth approximately $28,000. 69.11% of the stock is owned by institutional investors and hedge funds.

Tompkins Financial Price Performance

Shares of NYSEAMERICAN:TMP opened at $99.57 on Monday. The firm has a 50 day moving average of $98.41 and a 200-day moving average of $89.91. 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 stock has a market capitalization of $1.43 billion, a PE ratio of 8.15 and a beta of 0.73.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.22. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. The business had revenue of $87.12 million for the quarter, compared to analyst estimates of $86.93 million. On average, equities research analysts predict that Tompkins Financial Corporation will post 7.75 EPS for the current fiscal year.

Tompkins Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were given a $0.70 dividend. This is a boost from Tompkins Financial's previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, August 7th. Tompkins Financial's dividend payout ratio (DPR) is presently 56.57%.

Analyst Ratings Changes

A number of research firms have recently weighed in on TMP. Piper Sandler lifted their price target on shares of Tompkins Financial from $87.00 to $104.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods increased their price target 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 analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Tompkins Financial has an average rating of "Hold" and a consensus price target of $104.50.

Tompkins Financial Profile

Tompkins Financial Corporation is a financial services company headquartered in Ithaca, New York. Through its banking, insurance and wealth management businesses, the company provides financial products and services to individuals, families, businesses and institutions.

The company's principal banking subsidiary, Tompkins Community Bank, offers deposit accounts, residential and commercial lending, mortgages, cash management, treasury services and other banking solutions. Its wealth management operations provide investment management, trust, retirement planning and financial planning services, while Tompkins Insurance Agencies offers commercial and personal insurance products.

Tompkins Financial traces its roots to 1836 and serves communities primarily in upstate New York and parts of Pennsylvania, including the Central New York, Finger Lakes, Southern Tier and Hudson Valley regions.

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