Tompkins Financial (NYSEAMERICAN:TMP) Sets New 52-Week High on Better-Than-Expected Earnings

Key Points

• Tompkins Financial shares reached a new 52-week high of $102.80 after the company reported quarterly EPS of $2.00, exceeding estimates of $1.95. Revenue also slightly topped expectations at $89.85 million.
• Analyst sentiment remains mixed: Keefe, Bruyette & Woods raised its target to $105 with an “outperform” rating, while Piper Sandler lifted its target to $104 but maintained a “neutral” rating. The consensus rating is “Hold,” with a $104.50 target price.
• Institutional investors own 69.11% of the company, and several firms recently initiated positions. Tompkins Financial has a $1.45 billion market capitalization and trades at a price-to-earnings ratio of 8.28.

Tompkins Financial Corporation (NYSEAMERICAN:TMP - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $102.80 and last traded at $100.83, with a volume of 31,803 shares changing hands. The stock had previously closed at $100.78.

The financial services provider reported $2.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.95 by $0.05. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. The firm had revenue of $89.85 million during the quarter, compared to the consensus estimate of $89.65 million.

Wall Street Analyst Weigh In

TMP has been the subject of several recent research reports. 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 note on Monday, July 27th. Piper Sandler lifted their price objective on 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 given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $104.50.

Institutional Trading of Tompkins Financial

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

Tompkins Financial Stock Performance

The stock has a fifty day simple moving average of $97.95 and a two-hundred day simple moving average of $92.76. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 8.28 and a beta of 0.76.

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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