Tompkins Financial (NYSEAMERICAN:TMP) Shares Cross Above 50-Day Moving Average - Should You Sell?

Key Points

• Tompkins Financial shares crossed above their 50-day moving average, reaching $98.55 and closing at $97.91, compared with a 50-day average of $95.58.
• Analysts have a consensus “Hold” rating and an average price target of $104.50, while recent targets were raised to $104 and $105.
• The company reported quarterly EPS of $2.04, exceeding estimates by $0.22, and increased its quarterly dividend to $0.70 per share, equivalent to a 2.9% annual yield.

Tompkins Financial Corporation (NYSEAMERICAN:TMP - Get Free Report)'s share price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $95.58 and traded as high as $98.55. Tompkins Financial shares last traded at $97.91, with a volume of 157,751 shares.

Wall Street Analysts Forecast Growth

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

Tompkins Financial Stock Performance

The firm's 50 day moving average price is $95.58 and its 200-day moving average price is $86.89. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 8.02 and a beta of 0.74. 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 released its quarterly earnings data on Friday, July 24th. The financial services provider reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.22. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. The company had revenue of $87.12 million during the quarter, compared to the consensus estimate of $86.93 million. On average, analysts anticipate that Tompkins Financial Corporation will post 7.75 earnings per share for the current year.

Tompkins Financial Increases Dividend

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

Insider Buying and Selling

In other Tompkins Financial news, Director Ita M. Rahilly purchased 1,164 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average cost 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 represents a 10.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.52% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its position in shares of 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 purchasing an additional 3,801 shares during the last quarter. AQR Capital Management LLC increased its holdings in Tompkins Financial by 207.4% in the first quarter. AQR Capital Management LLC now owns 35,941 shares of the financial services provider's stock valued at $2,264,000 after purchasing 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 first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,556 shares of the financial services provider's stock valued at $476,000 after buying an additional 311 shares during the period. Jane Street Group LLC boosted its holdings in Tompkins Financial by 290.9% during the first quarter. Jane Street Group LLC now owns 24,706 shares of the financial services provider's stock worth $1,556,000 after buying an additional 18,385 shares during the last quarter. Finally, Hsbc Holdings PLC bought a new position in Tompkins Financial during the 2nd quarter worth approximately $345,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.

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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