Hillsdale Investment Management Inc. Invests $7.34 Million in Tompkins Financial Corporation $TMP

Key Points

• Hillsdale Investment Management opened a new position in Tompkins Financial, buying 93,100 shares worth about $7.34 million and ending the quarter with roughly 0.65% of the company.
• Other investors also added to or initiated positions, and institutional ownership now stands at 69.11% of Tompkins Financial’s stock.
• The company recently posted better-than-expected quarterly earnings of $1.82 per share and paid a $0.67 quarterly dividend, equal to an annualized yield of about 2.9%.

Hillsdale Investment Management Inc. bought a new stake in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 93,100 shares of the financial services provider's stock, valued at approximately $7,340,000. Hillsdale Investment Management Inc. owned approximately 0.65% of Tompkins Financial at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TMP. IFP Advisors Inc increased its holdings in Tompkins Financial by 59,550.0% in the fourth 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 in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Tompkins Financial during the 4th quarter worth about $118,000. Quantbot Technologies LP purchased a new stake in shares of Tompkins Financial during the 2nd quarter worth about $151,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Tompkins Financial during the 4th quarter worth about $171,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Tompkins Financial during the 2nd quarter valued at about $204,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Ita M. Rahilly acquired 1,164 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $85.90 per share, for a total transaction of $99,987.60. Following the acquisition, the director owned 11,849 shares in the company, valued at approximately $1,017,829.10. This represents a 10.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.52% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler restated a "neutral" rating and issued a $87.00 price target (up from $82.00) on shares of Tompkins Financial in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $87.00.

Tompkins Financial Stock Performance

NYSEAMERICAN:TMP opened at $91.28 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 0.94. The company has a fifty day moving average of $88.77 and a two-hundred day moving average of $82.40. The stock has a market capitalization of $1.31 billion, a PE ratio of 7.82 and a beta of 0.74. Tompkins Financial Corporation has a fifty-two week low of $61.21 and a fifty-two week high of $97.12.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.11. Tompkins Financial had a net margin of 28.93% and a return on equity of 11.27%. The business had revenue of $83.69 million for the quarter, compared to the consensus estimate of $83.64 million. As a group, research analysts forecast that Tompkins Financial Corporation will post 7.55 earnings per share for the current fiscal year.

Tompkins Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors 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 dividend on an annualized basis and a yield of 2.9%. Tompkins Financial's dividend payout ratio (DPR) is currently 54.14%.

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.

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