Tompkins Financial (NYSEAMERICAN:TMP) Sees Large Volume Increase – Time to Buy?

Tompkins Financial Corporation (NYSEAMERICAN:TMP) shares saw unusually-high trading volume on Tuesday . 65,397 shares traded hands during mid-day trading, a decline of 14% from the previous session’s volume of 75,765 shares.The stock last traded at $97.0710 and had previously closed at $97.91.

Analyst Upgrades and Downgrades

TMP has been the subject of several research reports. Keefe, Bruyette & Woods lifted their price target on shares of Tompkins Financial from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, July 27th. Piper Sandler increased their price target on Tompkins Financial from $87.00 to $104.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $104.50.

Tompkins Financial Price Performance

The stock has a 50 day moving average of $95.72 and a two-hundred day moving average of $87.04. The stock has a market cap of $1.40 billion, a PE ratio of 7.99 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its quarterly earnings data on Friday, July 24th. The financial services provider reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.22. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. The company had revenue of $87.12 million during the quarter, compared to analyst estimates of $86.93 million. Equities analysts anticipate that Tompkins Financial Corporation will post 7.75 EPS for the current year.

Tompkins Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Friday, August 7th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.9%. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Friday, August 7th. Tompkins Financial’s payout ratio is 56.57%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Tompkins Financial in the second quarter worth approximately $193,740,000. California State Teachers Retirement System raised its holdings in shares of Tompkins Financial by 10,479.4% during the 2nd quarter. California State Teachers Retirement System now owns 1,192,086 shares of the financial services provider’s stock valued at $112,676,000 after purchasing an additional 1,180,818 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Tompkins Financial during the second quarter valued at about $11,459,000. Hillsdale Investment Management Inc. acquired a new stake in Tompkins Financial in the 1st quarter worth approximately $7,340,000. Finally, Rhino Investment Partners Inc lifted its stake in shares of Tompkins Financial by 88.5% in the first quarter. Rhino Investment Partners Inc now owns 166,941 shares of the financial services provider’s stock worth $13,162,000 after buying an additional 78,391 shares during the last quarter. 69.11% of the stock is owned by institutional investors and hedge funds.

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.