Tompkins Financial (NYSEAMERICAN:TMP) Hits New 12-Month High - What's Next?

Key Points

• Tompkins Financial shares reached a new 52-week high, trading as high as $102.15 and closing near $101.71, giving the company a market capitalization of approximately $1.45 billion.
• The company beat quarterly earnings expectations, reporting $2.04 in EPS versus the $1.82 consensus and $87.12 million in revenue. Analysts maintain a consensus “Hold” rating with an average price target of $104.50.
• Tompkins Financial raised its quarterly dividend from $0.67 to $0.70 per share, equating to a $2.80 annualized payout and a 2.8% yield; institutional investors own 69.11% of the stock.

Tompkins Financial Corporation (NYSEAMERICAN:TMP - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The stock traded as high as $102.15 and last traded at $101.7090, with a volume of 30380 shares. The stock had previously closed at $101.13.

Analyst Ratings Changes

Several research firms have recently issued reports on TMP. Keefe, Bruyette & Woods upped their target price on Tompkins Financial from $98.00 to $105.00 and gave the company an "outperform" rating in a report on Monday, July 27th. Piper Sandler lifted their price target on Tompkins Financial from $87.00 to $104.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $104.50.

Tompkins Financial Price Performance

The firm has a market cap of $1.45 billion, a P/E ratio of 8.27 and a beta of 0.74. The business has a 50-day simple moving average of $94.47 and a 200 day simple moving average of $86.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95.

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

Tompkins Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be given a $0.70 dividend. The ex-dividend date is Friday, August 7th. This is a boost from Tompkins Financial's previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a yield of 2.8%. Tompkins Financial's payout ratio is 56.57%.

Insider Transactions at Tompkins Financial

In other news, Director Ita M. Rahilly purchased 1,164 shares of the stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $85.90 per share, with a total value of $99,987.60. Following the completion of the acquisition, the director directly owned 11,849 shares of the company's stock, valued at $1,017,829.10. This trade represents a 10.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.52% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC grew its holdings in shares of 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 purchasing an additional 9,249 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Tompkins Financial in the 1st quarter worth about $7,340,000. Lazard Asset Management LLC purchased a new stake in shares of Tompkins Financial during the 1st quarter valued at about $1,611,000. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 15,227 shares during the last quarter. Finally, 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 in the last quarter. 69.11% of the stock is currently owned by institutional investors.

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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