Tompkins Financial (NYSEAMERICAN:TMP) Hits New 12-Month High - Time to Buy?

Key Points

• Tompkins Financial reached a new 52-week high, trading as high as $105 and last at $102.55, up from its previous close of $99.73.
• Analysts raised price targets, but the consensus rating remains Hold, with an average target of $104.50.
• The company beat quarterly earnings and revenue estimates, reporting $2.00 per share and $89.85 million in revenue; it also raised its quarterly dividend from $0.70 to $0.74.

Tompkins Financial Corporation (NYSEAMERICAN:TMP - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $105.00 and last traded at $102.5460, with a volume of 19,097 shares traded. The stock had previously closed at $99.73.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TMP shares. Keefe, Bruyette & Woods upped their target price on shares of Tompkins Financial from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Piper Sandler raised their price target on shares of Tompkins Financial from $87.00 to $104.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $104.50.

Tompkins Financial Stock Performance

The firm has a 50 day moving average of $98.31 and a two-hundred day moving average of $89.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.94 and a quick ratio of 0.95. The stock has a market cap of $1.47 billion, a PE ratio of 8.17 and a beta of 0.77.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last announced its quarterly earnings results on Friday, October 23rd. The financial services provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.95 by $0.05. Tompkins Financial had a net margin of 30.94% and a return on equity of 11.59%. The company had revenue of $89.85 million for the quarter, compared to analyst estimates of $89.65 million. Research analysts predict that Tompkins Financial Corporation will post 7.75 EPS for the current fiscal year.

Tompkins Financial Increases Dividend

The business 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 positive change 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 2.9%. Tompkins Financial's payout ratio is 56.57%.

Institutional Investors Weigh In On Tompkins Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ethic Inc. purchased a new stake in shares of Tompkins Financial in the 3rd quarter valued at about $497,000. Chicago Partners Investment Group LLC grew its position in Tompkins Financial by 1.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 12,140 shares of the financial services provider's stock valued at $1,229,000 after buying an additional 176 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Tompkins Financial by 43.3% in the third quarter. ProShare Advisors LLC now owns 107,578 shares of the financial services provider's stock valued at $10,354,000 after acquiring an additional 32,521 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Tompkins Financial in the third quarter valued at about $206,000. Finally, Cardinal Capital Management lifted its position in Tompkins Financial by 6.0% in the third quarter. Cardinal Capital Management now owns 26,595 shares of the financial services provider's stock valued at $2,560,000 after purchasing an additional 1,507 shares during the period. 69.11% of the stock is currently owned by institutional investors and hedge funds.

Tompkins Financial Company Profile

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

Its banking operations are conducted primarily through Tompkins Community Bank, which offers deposit accounts, residential and commercial lending, mortgages, cash-management services, online banking and other financial products.

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