Tompkins Financial (NYSEAMERICAN:TMP) Sets New 12-Month High on Earnings Beat

Tompkins Financial Corporation (NYSEAMERICAN:TMP) shares hit a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $97.71 and last traded at $97.8150, with a volume of 6608 shares changing hands. The stock had previously closed at $92.65.

The financial services provider reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.22. Tompkins Financial had a net margin of 28.93% and a return on equity of 11.27%. The firm had revenue of $87.12 million for the quarter, compared to analysts’ expectations of $86.93 million.

Wall Street Analyst Weigh In

Separately, Piper Sandler reiterated a “neutral” rating and issued a $87.00 price target (up from $82.00) on shares of Tompkins Financial in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $87.00.

Insider Transactions at Tompkins Financial

In other news, Director Ita M. Rahilly acquired 1,164 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average cost of $85.90 per share, with a total value of $99,987.60. Following the acquisition, the director directly owned 11,849 shares of the company’s stock, valued at approximately $1,017,829.10. The trade was a 10.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.52% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. IFP Advisors Inc increased its holdings in shares of 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 buying an additional 1,191 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Tompkins Financial during the fourth quarter valued at approximately $118,000. Quantbot Technologies LP purchased a new stake in Tompkins Financial during the second quarter valued at approximately $151,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Tompkins Financial in the 4th quarter valued at approximately $171,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Tompkins Financial in the 2nd quarter worth approximately $204,000. 69.11% of the stock is owned by hedge funds and other institutional investors.

Tompkins Financial Price Performance

The company has a market capitalization of $1.40 billion, a PE ratio of 8.36 and a beta of 0.74. The firm’s 50 day simple moving average is $90.07 and its 200 day simple moving average is $83.41. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.47.

About Tompkins Financial

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.