Vanguard Group Inc. Cuts Stock Holdings in Tompkins Financial Corporation $TMP

Key Points

• Vanguard Group trimmed its stake in Tompkins Financial by 1.5% in Q3, selling 20,529 shares and now holds 1,370,734 shares (about 9.5%) valued at $90.8 million.
• Tompkins slightly beat EPS expectations ($1.78 vs. $1.77) with stronger-than-expected revenue, and raised its quarterly dividend to $0.67 (annualized $2.68), implying a 3.5% yield and a payout ratio of about 54.1%.
• The company has a market capitalization of roughly $1.12 billion and a P/E of 6.9, and analysts maintain a consensus Hold rating with a $74 price target.

Vanguard Group Inc. reduced its stake in Tompkins Financial Corporation (NYSEAMERICAN:TMP - Free Report) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,370,734 shares of the financial services provider's stock after selling 20,529 shares during the period. Vanguard Group Inc. owned approximately 9.50% of Tompkins Financial worth $90,756,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC grew its position in shares of Tompkins Financial by 1.9% during the third quarter. Chicago Partners Investment Group LLC now owns 11,438 shares of the financial services provider's stock worth $751,000 after buying an additional 216 shares in the last quarter. Savant Capital LLC increased its position in shares of Tompkins Financial by 4.2% in the 3rd quarter. Savant Capital LLC now owns 5,913 shares of the financial services provider's stock valued at $392,000 after purchasing an additional 238 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Tompkins Financial by 0.8% in the 3rd quarter. Rhumbline Advisers now owns 38,226 shares of the financial services provider's stock valued at $2,531,000 after purchasing an additional 308 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Tompkins Financial by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,556 shares of the financial services provider's stock valued at $476,000 after purchasing an additional 311 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Tompkins Financial by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,982 shares of the financial services provider's stock worth $313,000 after purchasing an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 69.11% of the company's stock.

Tompkins Financial Stock Performance

NYSEAMERICAN TMP opened at $77.42 on Friday. The company has a fifty day moving average of $78.23 and a two-hundred day moving average of $71.93. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.95 and a quick ratio of 0.95. Tompkins Financial Corporation has a 1 year low of $54.16 and a 1 year high of $86.95. The company has a market capitalization of $1.12 billion, a PE ratio of 6.90 and a beta of 0.78.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last announced its earnings results on Friday, January 30th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.77 by $0.01. The firm had revenue of $194.82 million during the quarter, compared to analysts' expectations of $136.16 million. Tompkins Financial had a return on equity of 11.19% and a net margin of 27.82%. As a group, analysts expect that Tompkins Financial Corporation will post 5.46 earnings per share for the current year.

Tompkins Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 22nd. Shareholders of record on Friday, February 13th were paid a $0.67 dividend. This is a boost from Tompkins Financial's previous quarterly dividend of $0.65. This represents a $2.68 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Friday, February 13th. Tompkins Financial's dividend payout ratio (DPR) is presently 54.14%.

Analysts Set New Price Targets

Several research firms recently commented on TMP. Piper Sandler started coverage on Tompkins Financial in a report on Wednesday, December 3rd. They issued a "neutral" rating and a $74.00 target price on the stock. Zacks Research raised Tompkins Financial to a "hold" rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, Tompkins Financial has a consensus rating of "Hold" and a consensus price target of $74.00.

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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