Tompkins Financial Corporation $TMP Position Boosted by Rhino Investment Partners Inc

Rhino Investment Partners Inc raised its stake in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) by 88.5% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 166,941 shares of the financial services provider’s stock after purchasing an additional 78,391 shares during the period. Tompkins Financial accounts for about 3.7% of Rhino Investment Partners Inc’s investment portfolio, making the stock its 9th biggest holding. Rhino Investment Partners Inc’s holdings in Tompkins Financial were worth $13,162,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TMP. IFP Advisors Inc lifted its position in shares of Tompkins Financial by 59,550.0% during the 4th quarter. IFP Advisors Inc now owns 1,193 shares of the financial services provider’s stock valued at $87,000 after buying an additional 1,191 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Tompkins Financial in the 4th quarter worth approximately $118,000. Quantbot Technologies LP purchased a new stake in Tompkins Financial in the 2nd quarter worth approximately $151,000. Eurizon Capital SGR S.p.A. bought a new stake in Tompkins Financial during the 4th quarter worth approximately $171,000. Finally, Raymond James Financial Inc. bought a new stake in Tompkins Financial during the 2nd quarter worth approximately $204,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Tompkins Financial Price Performance

Shares of Tompkins Financial stock opened at $101.25 on Wednesday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 8.29 and a beta of 0.74. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. The stock’s 50-day simple moving average is $91.13 and its 200-day simple moving average is $83.99. Tompkins Financial Corporation has a 52 week low of $61.21 and a 52 week high of $102.02.

Tompkins Financial (NYSEAMERICAN:TMP) last released its earnings results on Friday, July 24th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.22. The firm had revenue of $87.12 million during the quarter, compared to analysts’ expectations of $86.93 million. Tompkins Financial had a return on equity of 11.52% and a net margin of 30.13%. As a group, analysts expect that Tompkins Financial Corporation will post 7.55 earnings per share for the current fiscal year.

Tompkins Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be issued a dividend of $0.70 per share. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, August 7th. This represents a $2.80 dividend on an annualized basis and a yield of 2.8%. Tompkins Financial’s payout ratio is 54.14%.

Analysts Set New Price Targets

A number of research firms have weighed in on TMP. Keefe, Bruyette & Woods upped their price target on shares of Tompkins Financial from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday. Piper Sandler restated a “neutral” rating and set a $87.00 price objective (up from $82.00) on shares of Tompkins Financial in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Tompkins Financial presently has a consensus rating of “Hold” and a consensus price target of $96.00.

Insider Activity

In related news, Director Ita M. Rahilly acquired 1,164 shares of Tompkins Financial stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average price of $85.90 per share, for a total transaction of $99,987.60. Following the completion of the transaction, the director directly owned 11,849 shares in the company, valued at approximately $1,017,829.10. This represents a 10.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.52% of the stock is currently owned by insiders.

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.