Tompkins Financial (NYSEAMERICAN:TMP) Trading 6.3% Higher After Dividend Announcement

Key Points

• Tompkins Financial's stock price increased by 6.3% following the announcement of a dividend, trading as high as $68.27.
• The company declared a dividend of $0.62 per share, which will be paid on August 15th, reflecting an annual yield of 3.63%.
• Institutional investors hold 69.11% of Tompkins Financial's shares, with notable stakes raised by firms like Vanguard Group and American Century Companies.

Tompkins Financial Corporation (NYSEAMERICAN:TMP - Get Free Report)'s share price traded up 6.3% during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $68.24 and last traded at $68.27. 43,878 shares changed hands during trading, a decline of 13% from the average session volume of 50,475 shares. The stock had previously closed at $64.25.

The newly announced dividend which will be paid on Friday, August 15th. Investors of record on Friday, August 8th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 3.9%. Tompkins Financial's dividend payout ratio is presently 50.10%.

Tompkins Financial Stock Performance

The company has a market capitalization of $906.71 million, a PE ratio of 11.31 and a beta of 0.90. The stock's 50 day moving average price is $63.54. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.95 and a quick ratio of 0.92.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TMP. GAMMA Investing LLC increased its holdings in shares of Tompkins Financial by 8,603.9% during the 1st quarter. GAMMA Investing LLC now owns 89,998 shares of the financial services provider's stock worth $5,668,000 after buying an additional 88,964 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Tompkins Financial by 76.1% during the 4th quarter. JPMorgan Chase & Co. now owns 109,668 shares of the financial services provider's stock worth $7,439,000 after buying an additional 47,382 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Tompkins Financial by 50.2% during the 4th quarter. American Century Companies Inc. now owns 123,654 shares of the financial services provider's stock worth $8,387,000 after buying an additional 41,329 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Tompkins Financial during the 4th quarter worth approximately $2,743,000. Finally, Nuveen LLC acquired a new stake in shares of Tompkins Financial during the 1st quarter worth approximately $2,364,000. 69.11% of the stock is owned by hedge funds and other institutional investors.

About Tompkins Financial

Tompkins Financial Corporation, a financial holding company, provides commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance services. The company operates through three segments: Banking, Insurance, and Wealth Management. It accepts various deposit products, including checking and savings accounts, time deposits, and IRA products, as well as brokered, reciprocal, and municipal money market deposits.