Tompkins Financial's (TMP) "Neutral" Rating Reaffirmed at Piper Sandler

Key Points

• Piper Sandler reaffirmed a "Neutral" rating on Tompkins Financial and raised its price target to $87 (from $82), implying only about a 0.69% upside from the prior close.
• Q1 results showed an EPS beat of $1.82 vs. $1.71 expected but revenue missed at $71.9M vs. $83.6M; the company trades at a P/E of 7.4 and reported a net margin of 28.93%.
• Institutional ownership is high (~69.11%), with several advisors and funds recently increasing or initiating positions in the stock.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report)'s stock had its "neutral" rating reissued by analysts at Piper Sandler in a report issued on Tuesday,Benzinga reports. They presently have a $87.00 price objective on the financial services provider's stock, up from their prior price objective of $82.00. Piper Sandler's price objective would indicate a potential upside of 0.69% from the company's previous close.

Tompkins Financial Price Performance

Tompkins Financial stock traded up $2.22 during midday trading on Tuesday, reaching $86.41. The company had a trading volume of 22,822 shares, compared to its average volume of 66,146. The company has a market capitalization of $1.25 billion, a P/E ratio of 7.40 and a beta of 0.73. Tompkins Financial has a 12-month low of $58.12 and a 12-month high of $86.95. The firm's fifty day simple moving average is $79.56 and its 200-day simple moving average is $74.87. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.95 and a quick ratio of 0.95.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last issued its quarterly earnings results on Friday, April 24th. The financial services provider reported $1.82 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.11. The firm had revenue of $71.86 million for the quarter, compared to analyst estimates of $83.64 million. Tompkins Financial had a net margin of 28.93% and a return on equity of 11.67%. As a group, equities analysts anticipate that Tompkins Financial will post 7.25 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in Tompkins Financial by 95.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the financial services provider's stock valued at $36,000 after buying an additional 269 shares in the last quarter. IFP Advisors Inc lifted its stake in Tompkins Financial by 59,550.0% in the 4th quarter. IFP Advisors Inc now owns 1,193 shares of the financial services provider's stock worth $87,000 after purchasing an additional 1,191 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Tompkins Financial in the 4th quarter worth approximately $118,000. Quantbot Technologies LP purchased a new position in Tompkins Financial in the 2nd quarter worth approximately $151,000. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Tompkins Financial in the 4th quarter worth approximately $171,000. 69.11% of the stock is owned by hedge funds and other 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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