Tompkins Financial (NYSEAMERICAN:TMP) Reaches New 12-Month High – Time to Buy?

Tompkins Financial Corporation (NYSEAMERICAN:TMP)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $85.38 and last traded at $83.38, with a volume of 85835 shares traded. The stock had previously closed at $83.13.

Analyst Ratings Changes

A number of analysts have recently issued reports on TMP shares. Zacks Research upgraded Tompkins Financial to a “hold” rating in a report on Thursday, December 4th. Piper Sandler initiated coverage on shares of Tompkins Financial in a research report on Wednesday, December 3rd. They set a “neutral” rating and a $74.00 price target on the stock. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Tompkins Financial presently has an average rating of “Hold” and a consensus target price of $74.00.

Tompkins Financial Stock Down 0.2%

The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 7.52 and a beta of 0.79. The firm has a 50-day moving average of $75.36 and a 200 day moving average of $69.75. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.60.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its quarterly earnings data on Friday, January 30th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.01. The company had revenue of $257.30 million for the quarter, compared to analyst estimates of $136.16 million. Tompkins Financial had a net margin of 27.82% and a return on equity of 11.19%. On average, sell-side analysts anticipate that Tompkins Financial Corporation will post 5.46 earnings per share for the current year.

Tompkins Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, February 22nd. Shareholders of record on Friday, February 13th will be issued a $0.67 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.68 dividend on an annualized basis and a yield of 3.2%. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.65. Tompkins Financial’s dividend payout ratio (DPR) is presently 52.53%.

Insiders Place Their Bets

In other Tompkins Financial news, Director Ita M. Rahilly bought 1,463 shares of the stock in a transaction dated Friday, November 21st. The stock was bought at an average cost of $68.36 per share, for a total transaction of $100,010.68. Following the completion of the purchase, the director directly owned 10,511 shares of the company’s stock, valued at approximately $718,531.96. The trade was a 16.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Tompkins Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP boosted its holdings in Tompkins Financial by 3,207.7% in the second quarter. Allworth Financial LP now owns 2,580 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 2,502 shares during the period. Geode Capital Management LLC lifted its position in shares of Tompkins Financial by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 310,539 shares of the financial services provider’s stock worth $19,481,000 after buying an additional 11,455 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Tompkins Financial in the 2nd quarter valued at about $202,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Tompkins Financial during the 2nd quarter valued at about $1,134,000. Finally, LSV Asset Management acquired a new stake in Tompkins Financial during the second quarter worth about $1,704,000. 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.