The Manufacturers Life Insurance Company Purchases Shares of 5,944 Tompkins Financial Corporation $TMP

The Manufacturers Life Insurance Company purchased a new position in Tompkins Financial Corporation (NYSEAMERICAN:TMP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,944 shares of the financial services provider’s stock, valued at approximately $562,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Tompkins Financial by 37.2% during the 1st quarter. Royal Bank of Canada now owns 14,025 shares of the financial services provider’s stock valued at $883,000 after purchasing an additional 3,801 shares during the period. AQR Capital Management LLC lifted its stake in shares of Tompkins Financial by 207.4% during the 1st quarter. AQR Capital Management LLC now owns 35,941 shares of the financial services provider’s stock valued at $2,264,000 after buying an additional 24,249 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Tompkins Financial by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,556 shares of the financial services provider’s stock worth $476,000 after buying an additional 311 shares during the period. Jane Street Group LLC boosted its holdings in Tompkins Financial by 290.9% in the 1st quarter. Jane Street Group LLC now owns 24,706 shares of the financial services provider’s stock worth $1,556,000 after buying an additional 18,385 shares during the period. Finally, Hsbc Holdings PLC purchased a new stake in Tompkins Financial in the 2nd quarter worth $345,000. 69.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TMP. Piper Sandler raised their price target on Tompkins Financial from $87.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods upped their price objective on Tompkins Financial from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $104.50.

Tompkins Financial Stock Performance

NYSEAMERICAN TMP opened at $99.57 on Monday. The stock has a market capitalization of $1.43 billion, a PE ratio of 8.15 and a beta of 0.73. The business has a 50 day simple moving average of $96.91 and a two-hundred day simple moving average of $87.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95. Tompkins Financial Corporation has a 1-year low of $61.88 and a 1-year high of $102.58.

Tompkins Financial (NYSEAMERICAN:TMP) last issued its quarterly earnings data 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 business had revenue of $87.12 million for 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%. On average, research analysts predict that Tompkins Financial Corporation will post 7.75 EPS for the current fiscal year.

Tompkins Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.8%. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.67. The ex-dividend date was Friday, August 7th. Tompkins Financial’s dividend payout ratio (DPR) is 56.57%.

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.