Hsbc Holdings PLC Makes New $1.22 Million Investment in Tompkins Financial Corporation $TMP

Key Points

• Hsbc Holdings PLC acquired 13,000 shares of Tompkins Financial in the second quarter, valued at approximately $1.22 million and representing about 0.09% of the company. Institutional investors collectively own 69.11% of TMP.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $104.50. Recent targets were raised to $104 by Piper Sandler and $105 by Keefe, Bruyette & Woods.
• Tompkins Financial exceeded quarterly earnings expectations, reporting $2.04 in EPS versus the $1.82 consensus estimate, while revenue reached $87.12 million. The company also increased its quarterly dividend to $0.70, implying a 2.8% annualized yield.

Hsbc Holdings PLC acquired a new stake in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,000 shares of the financial services provider's stock, valued at approximately $1,215,000. Hsbc Holdings PLC owned about 0.09% of Tompkins Financial at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TMP. Chicago Partners Investment Group LLC lifted its stake in Tompkins Financial by 1.2% in the first quarter. Chicago Partners Investment Group LLC now owns 11,697 shares of the financial services provider's stock valued at $978,000 after acquiring an additional 133 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Tompkins Financial by 1.1% in the 4th quarter. Millennium Management LLC now owns 16,863 shares of the financial services provider's stock valued at $1,223,000 after purchasing an additional 183 shares during the last quarter. WINTON GROUP Ltd lifted its stake in shares of 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 last quarter. Illinois Municipal Retirement Fund boosted its holdings in Tompkins Financial by 4.3% in the first quarter. Illinois Municipal Retirement Fund now owns 6,750 shares of the financial services provider's stock worth $532,000 after purchasing an additional 279 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in Tompkins Financial in the second quarter worth $27,000. Hedge funds and other institutional investors own 69.11% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on TMP shares. Piper Sandler raised their target price on 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 price target on Tompkins Financial from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $104.50.

Tompkins Financial Stock Up 0.5%

Tompkins Financial stock opened at $98.83 on Friday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 8.09 and a beta of 0.73. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95. Tompkins Financial Corporation has a fifty-two week low of $61.88 and a fifty-two week high of $102.58. The firm has a fifty day moving average price of $97.29 and a two-hundred day moving average price of $88.41.

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, beating the consensus estimate of $1.82 by $0.22. The company had revenue of $87.12 million for the quarter, compared to the consensus estimate of $86.93 million. Tompkins Financial had a return on equity of 11.52% and a net margin of 30.13%. As a group, analysts forecast that Tompkins Financial Corporation will post 7.75 earnings per share for the current year.

Tompkins Financial Increases Dividend

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

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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