Tompkins Financial (NYSEAMERICAN:TMP) Hits New 12-Month High – Here’s What Happened

Tompkins Financial Co. (NYSEAMERICAN:TMP)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $73.57 and last traded at $72.73, with a volume of 7050 shares. The stock had previously closed at $66.44.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of Tompkins Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $59.00 to $68.00 in a research report on Wednesday, October 2nd. StockNews.com raised shares of Tompkins Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd.

Tompkins Financial Price Performance

The firm has a market cap of $1.13 billion, a P/E ratio of 16.28 and a beta of 0.67. The company has a quick ratio of 0.94, a current ratio of 0.92 and a debt-to-equity ratio of 0.75.

Tompkins Financial (NYSEAMERICAN:TMP) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.09. The firm had revenue of $112.51 million for the quarter. Tompkins Financial had a net margin of 15.59% and a return on equity of 9.68%. During the same period in the prior year, the business posted ($2.35) EPS.

Tompkins Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.62 per share. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.17%. The ex-dividend date is Friday, November 8th. Tompkins Financial’s payout ratio is 52.70%.

Institutional Investors Weigh In On Tompkins Financial

A number of large investors have recently modified their holdings of TMP. Dimensional Fund Advisors LP boosted its stake in Tompkins Financial by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 571,421 shares of the financial services provider’s stock worth $27,941,000 after buying an additional 34,752 shares during the last quarter. ProShare Advisors LLC boosted its holdings in Tompkins Financial by 13.5% in the 1st quarter. ProShare Advisors LLC now owns 155,834 shares of the financial services provider’s stock valued at $7,837,000 after purchasing an additional 18,579 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Tompkins Financial by 9.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 126,288 shares of the financial services provider’s stock worth $6,175,000 after buying an additional 11,140 shares during the last quarter. John G Ullman & Associates Inc. raised its position in shares of Tompkins Financial by 224.0% during the 1st quarter. John G Ullman & Associates Inc. now owns 101,865 shares of the financial services provider’s stock valued at $5,123,000 after buying an additional 70,422 shares during the period. Finally, Public Sector Pension Investment Board lifted its holdings in Tompkins Financial by 6.4% in the second quarter. Public Sector Pension Investment Board now owns 27,569 shares of the financial services provider’s stock valued at $1,348,000 after acquiring an additional 1,662 shares during the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

About Tompkins Financial

Tompkins Financial Corporation, a financial holding company, provides commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance services. The company operates through three segments: Banking, Insurance, and Wealth Management. It accepts various deposit products, including checking and savings accounts, time deposits, and IRA products, as well as brokered, reciprocal, and municipal money market deposits.