Tompkins Financial (NYSEAMERICAN:TMP) Posts Quarterly Earnings Results, Beats Expectations By $0.22 EPS

Key Points

• Tompkins Financial reported quarterly EPS of $2.04, beating analyst expectations by $0.22, while revenue came in slightly above forecasts at $87.12 million.
• The stock rose 6.5% on the earnings release, trading near its 52-week high and reflecting a market cap of about $1.42 billion.
• Analysts currently maintain a Hold view on the stock, with Piper Sandler reaffirming a neutral rating and lifting its price target to $87.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) announced its quarterly earnings data on Friday. The financial services provider reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.22, FiscalAI reports. Tompkins Financial had a net margin of 28.93% and a return on equity of 11.27%. The firm had revenue of $87.12 million during the quarter, compared to analysts' expectations of $86.93 million.

Tompkins Financial Stock Up 6.5%

Shares of NYSEAMERICAN:TMP traded up $6.07 on Friday, hitting $98.72. 67,509 shares of the company's stock were exchanged, compared to its average volume of 71,652. Tompkins Financial has a 1-year low of $61.21 and a 1-year high of $98.45. The company has a market capitalization of $1.42 billion, a PE ratio of 8.42 and a beta of 0.74. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 0.94. The firm's 50-day moving average is $90.07 and its 200 day moving average is $83.41.

Insiders Place Their Bets

In other news, Director Ita M. Rahilly bought 1,164 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $85.90 per share, with a total value of $99,987.60. Following the transaction, the director directly owned 11,849 shares in the company, valued at $1,017,829.10. This trade represents a 10.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.52% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Tompkins Financial

A number of large investors have recently made changes to their positions in the stock. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Tompkins Financial in the fourth quarter valued at about $4,351,000. Invesco Ltd. lifted its holdings in Tompkins Financial by 95.9% during the 2nd quarter. Invesco Ltd. now owns 98,191 shares of the financial services provider's stock worth $6,160,000 after buying an additional 48,064 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Tompkins Financial by 43.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 102,891 shares of the financial services provider's stock valued at $7,462,000 after purchasing an additional 31,171 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Tompkins Financial by 62.3% during the 4th quarter. AQR Capital Management LLC now owns 68,928 shares of the financial services provider's stock worth $4,999,000 after purchasing an additional 26,457 shares during the period. Finally, Jane Street Group LLC lifted its holdings in shares of Tompkins Financial by 290.9% in the 1st quarter. Jane Street Group LLC now owns 24,706 shares of the financial services provider's stock worth $1,556,000 after purchasing an additional 18,385 shares during the last quarter. Hedge funds and other institutional investors own 69.11% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler reaffirmed a "neutral" rating and set a $87.00 price objective (up from $82.00) on shares of Tompkins Financial in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $87.00.

About Tompkins Financial

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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