Tompkins Financial (NYSEAMERICAN:TMP) Sees Strong Trading Volume - Here's What Happened

Key Points

• Tompkins Financial traded 65,397 shares, down 14% from the prior session, while closing at $97.07 versus $97.91 previously.
• Analysts raised their price targets to $104–$105, but the consensus rating remains Hold with an average target of $104.50.
• The company beat quarterly earnings expectations, reporting $2.04 EPS versus $1.82 expected, and increased its quarterly dividend to $0.70 per share, implying a 2.9% yield.

Tompkins Financial Corporation (NYSEAMERICAN:TMP - Get Free Report) saw unusually-strong trading volume on Tuesday . 65,397 shares traded hands during trading, a decline of 14% from the previous session's volume of 75,765 shares.The stock last traded at $97.0710 and had previously closed at $97.91.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Tompkins Financial from $98.00 to $105.00 and gave the company an "outperform" rating in a research report on Monday, July 27th. Piper Sandler increased their price objective on Tompkins Financial from $87.00 to $104.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $104.50.

Tompkins Financial Stock Performance

The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 7.99 and a beta of 0.74. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $95.72 and a two-hundred day moving average price of $87.04.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.22. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. The company had revenue of $87.12 million for the quarter, compared to analysts' expectations of $86.93 million. As a group, analysts forecast that Tompkins Financial Corporation will post 7.75 EPS for the current fiscal year.

Tompkins Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.9%. This is a boost from Tompkins Financial's previous quarterly dividend of $0.67. The ex-dividend date was Friday, August 7th. Tompkins Financial's dividend payout ratio (DPR) is currently 56.57%.

Hedge Funds Weigh In On Tompkins Financial

A number of hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in Tompkins Financial by 34.0% in the first quarter. SG Americas Securities LLC now owns 36,417 shares of the financial services provider's stock valued at $2,871,000 after acquiring an additional 9,249 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Tompkins Financial in the 1st quarter worth approximately $1,611,000. Hillsdale Investment Management Inc. purchased a new position in shares of Tompkins Financial in the first quarter valued at $7,340,000. Vanguard Group Inc. boosted its position in Tompkins Financial by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 1,385,961 shares of the financial services provider's stock valued at $100,510,000 after buying an additional 15,227 shares during the last quarter. Finally, Rhino Investment Partners Inc boosted its holdings 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 valued at $13,162,000 after purchasing an additional 78,391 shares during the last quarter. Institutional investors and hedge funds own 69.11% of the company's stock.

Tompkins Financial Company Profile

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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