Tompkins Financial (NYSEAMERICAN:TMP) Sees Strong Trading Volume - Still a Buy?

Key Points

• Tompkins Financial shares traded at approximately $98.08 amid elevated volume, while analysts raised price targets to $104–$105. However, the consensus rating remains “Hold,” with an average target of $104.50.
• The company exceeded quarterly expectations, reporting $2.04 in EPS versus the $1.82 consensus and revenue of $87.12 million. Analysts project full-year EPS of $7.75.
• Tompkins Financial increased its quarterly dividend from $0.67 to $0.70 per share, equivalent to a 2.9% annualized yield; institutional investors own 69.11% of the stock.

Shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP - Get Free Report) saw unusually-strong trading volume on Monday . 67,194 shares changed hands during mid-day trading, a decline of 9% from the previous session's volume of 73,677 shares.The stock last traded at $98.0790 and had previously closed at $98.73.

Analysts Set New Price Targets

A number of research firms have issued reports on TMP. Piper Sandler boosted their price target on Tompkins Financial from $87.00 to $104.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Tompkins Financial from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Tompkins Financial currently has an average rating of "Hold" and an average target price of $104.50.

Tompkins Financial Stock Performance

The business has a 50-day simple moving average of $93.33 and a 200 day simple moving average of $85.40. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $1.40 billion, a PE ratio of 7.97 and a beta of 0.74.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The financial services provider reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.22. The firm had revenue of $87.12 million for 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%. Equities research analysts forecast that Tompkins Financial Corporation will post 7.75 EPS for the current year.

Tompkins Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.70 per share. This is an increase from Tompkins Financial's previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 7th. Tompkins Financial's payout ratio is presently 56.57%.

Insiders Place Their Bets

In other news, Director Ita M. Rahilly purchased 1,164 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was acquired at an average cost of $85.90 per share, for a total transaction of $99,987.60. Following the completion of 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.52% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Royal Bank of Canada increased its stake in Tompkins Financial by 37.2% in the 1st quarter. Royal Bank of Canada now owns 14,025 shares of the financial services provider's stock worth $883,000 after buying an additional 3,801 shares in the last quarter. AQR Capital Management LLC increased its holdings in Tompkins Financial by 207.4% in the 1st quarter. AQR Capital Management LLC now owns 35,941 shares of the financial services provider's stock valued at $2,264,000 after acquiring an additional 24,249 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Tompkins Financial by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,556 shares of the financial services provider's stock worth $476,000 after purchasing an additional 311 shares in the last quarter. Jane Street Group LLC lifted its stake in 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 in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Tompkins Financial during the 2nd quarter valued at about $345,000. Hedge funds and other institutional investors 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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