Tompkins Financial (NYSEAMERICAN:TMP) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler initiated coverage on shares of Tompkins Financial (NYSEAMERICAN:TMP) in a report released on Friday morning, Marketbeat.com reports. The firm issued a neutral rating and a $70.00 target price on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods raised shares of Tompkins Financial from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $59.00 to $68.00 in a research report on Wednesday, October 2nd.

Tompkins Financial Price Performance

TMP opened at $69.38 on Friday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market capitalization of $998.38 million, a PE ratio of 14.98 and a beta of 0.72. Tompkins Financial has a 12 month low of $43.09 and a 12 month high of $79.01.

Tompkins Financial (NYSEAMERICAN:TMP) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.09. The business 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 quarter in the prior year, the business posted ($2.35) earnings per share.

Tompkins Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were 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 dividend yield of 3.57%. The ex-dividend date was Friday, November 8th. Tompkins Financial’s dividend payout ratio is presently 53.56%.

Hedge Funds Weigh In On Tompkins Financial

A number of large investors have recently bought and sold shares of the business. FMR LLC lifted its stake in Tompkins Financial by 14.3% in the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock valued at $100,000 after buying an additional 216 shares in the last quarter. nVerses Capital LLC lifted its holdings in Tompkins Financial by 100.0% in the 3rd quarter. nVerses Capital LLC now owns 600 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Tompkins Financial by 3.0% during the third quarter. Chicago Partners Investment Group LLC now owns 11,016 shares of the financial services provider’s stock worth $683,000 after buying an additional 317 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Tompkins Financial by 89.0% in the third quarter. GAMMA Investing LLC now owns 877 shares of the financial services provider’s stock valued at $51,000 after buying an additional 413 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Tompkins Financial by 23.8% in the second quarter. Sei Investments Co. now owns 5,194 shares of the financial services provider’s stock valued at $254,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds 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.