Tompkins Financial (NYSEAMERICAN:TMP) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Tompkins Financial shares rose to $99.80 amid unusually high trading volume, with 86,830 shares traded—6% more than in the prior session.
• Analysts raised their price targets, but the overall consensus remains “Hold”, with an average target of $104.50.
• The company exceeded quarterly earnings expectations, reporting $2.04 EPS versus $1.82 expected, and increased its quarterly dividend to $0.70, equivalent to a 2.8% annual yield.

Tompkins Financial Corporation (NYSEAMERICAN:TMP - Get Free Report) saw unusually-strong trading volume on Tuesday. 86,830 shares were traded during trading, an increase of 6% from the previous session's volume of 81,796 shares. The stock last traded at $99.80 and had previously closed at $97.17.

Wall Street Analyst Weigh In

Several research firms have commented on TMP. Keefe, Bruyette & Woods increased their price target on shares of 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 upped their price objective on shares of Tompkins Financial from $87.00 to $104.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. One investment 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 currently has a consensus rating of "Hold" and an average target price of $104.50.

Tompkins Financial Price Performance

The company has a market cap of $1.43 billion, a price-to-earnings ratio of 8.12 and a beta of 0.76. The stock has a 50 day simple moving average of $97.98 and a two-hundred day simple moving average of $92.35. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $87.12 million for the quarter, compared to analyst estimates of $86.93 million. On average, equities research analysts predict that Tompkins Financial Corporation will post 7.75 earnings per share for the current fiscal year.

Tompkins Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.8%. 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 56.57%.

Institutional Investors Weigh In On Tompkins Financial

Several large investors have recently bought and sold shares of the stock. Nykredit A S acquired a new position in shares of Tompkins Financial during the 2nd quarter worth about $25,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Tompkins Financial in the second quarter valued at about $27,000. Bard Associates Inc. acquired a new position in Tompkins Financial in the 2nd quarter valued at $28,000. Trust Co. of Vermont acquired a new stake in Tompkins Financial in the second quarter valued at $42,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Tompkins Financial in the 2nd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 69.11% of the company's stock.

Tompkins Financial Company Profile

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

The company's banking operations offer deposit accounts, residential and commercial lending, mortgage services, cash-management solutions, online and mobile banking, and other traditional community-banking products.

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