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

Key Points

• Hsbc Holdings PLC initiated a position in Tompkins Financial by purchasing 13,000 shares valued at approximately $1.215 million. Institutional investors collectively own 69.11% of the company.
• Tompkins Financial reported quarterly EPS of $2.04, exceeding the $1.82 consensus estimate, while revenue reached $87.12 million. The stock recently traded at $97.12, near its 12-month high of $102.58.
• 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. Analysts maintain a consensus “Hold” rating with an average price target of $104.50.

Hsbc Holdings PLC purchased a new position in Tompkins Financial Corporation (NYSEAMERICAN:TMP - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 13,000 shares of the financial services provider's stock, valued at approximately $1,215,000. Hsbc Holdings PLC owned 0.09% of Tompkins Financial at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TMP. Chicago Partners Investment Group LLC raised its holdings 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 purchasing an additional 133 shares in the last quarter. Millennium Management LLC boosted its stake in Tompkins Financial by 1.1% during 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 in the last quarter. WINTON GROUP Ltd boosted its stake in Tompkins Financial by 1.1% during 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 in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Tompkins Financial by 4.3% during 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. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Tompkins Financial during the 2nd quarter valued at $27,000. 69.11% of the stock is currently owned by institutional investors.

Tompkins Financial Trading Down 0.7%

NYSEAMERICAN TMP opened at $97.12 on Tuesday. The firm's 50 day moving average price is $96.53 and its two-hundred day moving average price is $87.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95. Tompkins Financial Corporation has a twelve month low of $61.88 and a twelve month high of $102.58. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 7.95 and a beta of 0.74.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last issued its earnings results on Friday, July 24th. The financial services provider reported $2.04 EPS for the quarter, topping the consensus estimate of $1.82 by $0.22. The business had revenue of $87.12 million during the quarter, compared to analysts' expectations of $86.93 million. Tompkins Financial had a return on equity of 11.52% and a net margin of 30.13%. Equities 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. Shareholders of record on Friday, August 7th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, August 7th. This is a boost from Tompkins Financial's previous quarterly dividend of $0.67. Tompkins Financial's dividend payout ratio is 56.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TMP. Keefe, Bruyette & Woods upped their price objective on Tompkins Financial from $98.00 to $105.00 and gave the company an "outperform" rating in a report on Monday, July 27th. Piper Sandler lifted their target price on Tompkins Financial from $87.00 to $104.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $104.50.

Tompkins Financial 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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