Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Tompkins Financial (NYSEAMERICAN:TMP) Stock

Key Points

• Keefe, Bruyette & Woods raised Tompkins Financial’s price target from $98 to $105 and maintained an “outperform” rating, implying 6.51% upside from the prior close. Piper Sandler kept a “neutral” rating with an $87 target, while the overall analyst consensus remains “Hold” with a $96 target.
• Tompkins Financial shares fell 2.5% to $98.58 in Monday trading, near the company’s 52-week high of $102.02. The stock has a $1.42 billion market capitalization and a price-to-earnings ratio of 8.07.
• The company reported quarterly earnings of $2.04 per share, beating analyst expectations of $1.82, while revenue of $87.12 million was slightly above estimates. Institutional investors and hedge funds own 69.11% of the stock, and an insider recently increased holdings by 10.89% through a purchase.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) had its price target boosted by equities research analysts at Keefe, Bruyette & Woods from $98.00 to $105.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target points to a potential upside of 6.51% from the stock's previous close.

Separately, Piper Sandler reissued a "neutral" rating and set a $87.00 price target (up from $82.00) on shares of Tompkins Financial in a report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $96.00.

Tompkins Financial Trading Down 2.5%

TMP stock traded down $2.54 during midday trading on Monday, hitting $98.58. The company had a trading volume of 67,603 shares, compared to its average volume of 72,435. The stock's 50 day moving average price is $90.45 and its 200 day moving average price is $83.60. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 8.07 and a beta of 0.74. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.47. Tompkins Financial has a 52 week low of $61.21 and a 52 week high of $102.02.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last announced its earnings results on Friday, July 24th. The financial services provider reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.22. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.74%. The firm had revenue of $87.12 million for the quarter, compared to analyst estimates of $86.93 million. As a group, equities research analysts expect that Tompkins Financial will post 7.55 earnings per share for the current fiscal year.

Insider Transactions at Tompkins Financial

In related news, Director Ita M. Rahilly purchased 1,164 shares of the business's stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $85.90 per share, with a total value of $99,987.60. Following the transaction, the director owned 11,849 shares of the company's stock, valued at approximately $1,017,829.10. This trade represents a 10.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.52% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Tompkins Financial

Large investors have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. purchased a new stake in Tompkins Financial in the 2nd quarter worth $284,000. Bank of America Corp DE raised its holdings in shares of Tompkins Financial by 20.4% during the 1st quarter. Bank of America Corp DE now owns 57,050 shares of the financial services provider's stock worth $4,498,000 after acquiring an additional 9,684 shares during the period. Rhino Investment Partners Inc grew its position in Tompkins Financial by 88.5% in the first quarter. Rhino Investment Partners Inc now owns 166,941 shares of the financial services provider's stock worth $13,162,000 after acquiring an additional 78,391 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Tompkins Financial by 42.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 5,960 shares of the financial services provider's stock worth $470,000 after purchasing an additional 1,785 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Tompkins Financial by 22.9% during the first quarter. Quantinno Capital Management LP now owns 19,754 shares of the financial services provider's stock valued at $1,557,000 after acquiring an additional 3,676 shares during the last quarter. Institutional investors and hedge funds own 69.11% of the company's stock.

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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