Legal & General Group Plc Makes New Investment in Tompkins Financial Corporation $TMP

Key Points

• Legal & General Group acquired 27,703 Tompkins Financial shares worth approximately $2.6 million, giving it a 0.19% stake. Institutional investors collectively own 69.11% of the company’s stock.
• Tompkins Financial reported quarterly EPS of $2.04, beating estimates of $1.82, while revenue of $87.12 million slightly exceeded expectations. The company also raised its quarterly dividend to $0.70, representing a 2.8% annualized yield.
• Analyst sentiment remains mixed, with one Buy and two Hold ratings and a consensus price target of $104.50, compared with the stock’s reported price of $99.57.

Legal & General Group Plc purchased a new stake in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 27,703 shares of the financial services provider's stock, valued at approximately $2,618,000. Legal & General Group Plc owned 0.19% of Tompkins Financial at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TMP. BlackRock Inc. purchased a new stake in Tompkins Financial during the second quarter worth $193,740,000. Vanguard Group Inc. raised its stake in shares of Tompkins Financial by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 1,385,961 shares of the financial services provider's stock worth $100,510,000 after buying an additional 15,227 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Tompkins Financial by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 316,607 shares of the financial services provider's stock worth $22,962,000 after buying an additional 4,673 shares during the last quarter. Rhino Investment Partners Inc boosted its position in shares of Tompkins Financial by 88.5% in the 1st quarter. Rhino Investment Partners Inc now owns 166,941 shares of the financial services provider's stock worth $13,162,000 after buying an additional 78,391 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Tompkins Financial in the 2nd quarter valued at about $11,459,000. Hedge funds and other institutional investors own 69.11% of the company's stock.

Tompkins Financial Price Performance

Tompkins Financial stock opened at $99.57 on Friday. The stock has a market capitalization of $1.43 billion, a P/E ratio of 8.15 and a beta of 0.73. Tompkins Financial Corporation has a 12-month low of $61.88 and a 12-month high of $102.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95. The firm's 50-day moving average is $96.91 and its two-hundred day moving average is $87.86.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last announced its quarterly earnings data 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. 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 the consensus estimate of $86.93 million. Equities analysts predict 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 an increase from Tompkins Financial's previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis 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 presently 56.57%.

Wall Street Analysts Forecast Growth

TMP has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their target price on shares of Tompkins Financial from $98.00 to $105.00 and gave the stock an "outperform" rating in a research report on Monday, July 27th. Piper Sandler raised their price objective on shares of Tompkins Financial from $87.00 to $104.00 and gave the stock 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, Tompkins Financial has an average rating of "Hold" and a consensus price target of $104.50.

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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