Tompkins Financial (NYSEAMERICAN:TMP) SVP David Kershaw Sells 500 Shares of Stock

Key Points

• Senior Vice President David Kershaw sold 500 Tompkins Financial shares for about $50,285, reducing his holdings by 36.58% to 867 shares.
• Tompkins Financial beat quarterly earnings expectations, reporting EPS of $2.00 versus the $1.95 consensus and revenue of $89.85 million.
• The company raised its quarterly dividend from $0.70 to $0.74 per share, equivalent to an annualized $2.96 dividend and a 3.0% yield.

Tompkins Financial Corporation (NYSEAMERICAN:TMP - Get Free Report) SVP David Kershaw sold 500 shares of Tompkins Financial stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $100.57, for a total transaction of $50,285.00. Following the sale, the senior vice president owned 867 shares in the company, valued at $87,194.19. This represents a 36.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Tompkins Financial Stock Performance

TMP traded down $0.67 on Thursday, reaching $99.62. The company had a trading volume of 17,556 shares, compared to its average volume of 84,723. Tompkins Financial Corporation has a 1 year low of $64.16 and a 1 year high of $105.18. The stock has a market capitalization of $1.43 billion, a PE ratio of 7.93 and a beta of 0.77. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $98.73 and a 200-day moving average price of $89.97.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last issued its quarterly earnings data on Friday, October 23rd. The financial services provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.05. Tompkins Financial had a return on equity of 11.59% and a net margin of 30.94%. The company had revenue of $89.85 million for the quarter, compared to analyst estimates of $89.65 million. As a group, research analysts forecast that Tompkins Financial Corporation will post 7.90 EPS for the current fiscal year.

Tompkins Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be given a $0.74 dividend. This is a boost from Tompkins Financial's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Friday, November 6th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 3.0%. Tompkins Financial's payout ratio is currently 59.80%.

Analyst Upgrades and Downgrades

TMP has been the topic of a number of research reports. Piper Sandler raised their price target on Tompkins Financial from $87.00 to $104.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods boosted their price objective on Tompkins Financial from $98.00 to $105.00 and gave the company 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Tompkins Financial currently has a consensus rating of "Hold" and a consensus target price of $104.50.

Institutional Trading of Tompkins Financial

A number of large investors have recently bought and sold shares of TMP. BlackRock Inc. acquired a new position in Tompkins Financial in the second quarter valued at $193,740,000. Rhino Investment Partners Inc boosted its stake in shares of Tompkins Financial by 88.5% during the first 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 during the period. Bank of New York Mellon Corp acquired a new stake in shares of Tompkins Financial during the second quarter worth about $11,459,000. ProShare Advisors LLC grew its holdings in shares of Tompkins Financial by 43.3% during the third quarter. ProShare Advisors LLC now owns 107,578 shares of the financial services provider's stock worth $10,354,000 after buying an additional 32,521 shares during the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of Tompkins Financial during the first quarter worth about $7,340,000. Institutional investors and hedge funds own 69.11% of the company's stock.

Tompkins Financial Company Profile

Tompkins Financial Corporation is a financial services holding company based in Ithaca, New York. Through its subsidiaries, it provides banking, insurance and wealth management services to individuals, businesses and institutions. Its banking subsidiary, Tompkins Community Bank, offers deposit accounts, loans and other personal and commercial banking services. Tompkins also provides insurance products through Tompkins Insurance Agencies and financial planning and investment services through Tompkins Financial Advisors.

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