Tompkins Financial Corporation $TMP Shares Sold by Tompkins Financial Corp

Key Points

• Tompkins Financial Corp. reduced its Tompkins Financial (TMP) stake by 1.1%, selling 12,728 shares and retaining 1.10 million shares valued at approximately $106.3 million. The position remains its largest portfolio holding and represents 7.68% of TMP.
• TMP traded near $98.72, with a market capitalization of $1.42 billion and a 12-month range of $61.88 to $102.58. The company recently reported quarterly EPS of $2.04, exceeding the $1.82 consensus estimate.
• The quarterly dividend increased to $0.70 per share, or $2.80 annualized, representing a 2.8% yield. Analysts maintain a consensus “Hold” rating with an average price target of $104.50.

Tompkins Financial Corp reduced its holdings in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP - Free Report) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,104,591 shares of the financial services provider's stock after selling 12,728 shares during the quarter. Tompkins Financial makes up about 7.5% of Tompkins Financial Corp's portfolio, making the stock its biggest holding. Tompkins Financial Corp owned 7.68% of Tompkins Financial worth $106,317,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Nykredit A S acquired a new stake in Tompkins Financial during the 2nd quarter valued at $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Tompkins Financial in the second quarter valued at $27,000. Bard Associates Inc. bought a new position in shares of Tompkins Financial in the second quarter valued at about $28,000. Trust Co. of Vermont bought a new position in shares of Tompkins Financial in the second quarter valued at about $42,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Tompkins Financial in the second quarter valued at about $51,000. 69.11% of the stock is owned by institutional investors and hedge funds.

Tompkins Financial Stock Performance

NYSEAMERICAN TMP traded down $0.17 during trading on Monday, reaching $98.72. The company's stock had a trading volume of 21,139 shares, compared to its average volume of 82,017. 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 firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 8.09 and a beta of 0.76. Tompkins Financial Corporation has a 12 month low of $61.88 and a 12 month high of $102.58. The firm has a 50 day moving average price of $98.65 and a 200 day moving average price of $90.72.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last announced 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 company had revenue of $87.12 million for the quarter, compared to analysts' expectations of $86.93 million. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. As a group, equities analysts anticipate that Tompkins Financial Corporation will post 7.75 EPS for the current fiscal year.

Tompkins Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $2.80 annualized dividend and a yield of 2.8%. This is a boost from Tompkins Financial's previous quarterly dividend of $0.67. Tompkins Financial's payout ratio is presently 56.57%.

Wall Street Analyst Weigh In

TMP has been the subject of several research analyst 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 report on Monday, July 27th. Piper Sandler increased their price target on shares of Tompkins Financial from $87.00 to $104.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tompkins Financial presently has an average rating of "Hold" and an average price target of $104.50.

Tompkins Financial Company Profile

Tompkins Financial Corporation is a financial services holding company headquartered in Ithaca, New York. Through its banking, insurance and wealth-management subsidiaries, the company provides a range of services to individuals, businesses, municipalities and nonprofit organizations.

The company's banking operations offer deposit accounts, residential and commercial lending, mortgage services, cash-management solutions, online and mobile banking, and other traditional community-banking products.

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