Tompkins Financial (NYSEAMERICAN:TMP) Reaches New 52-Week High – Still a Buy?
by Mitch Edgeman · The Markets DailyTompkins Financial Corporation (NYSEAMERICAN:TMP – Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $94.36 and last traded at $94.3890, with a volume of 19008 shares trading hands. The stock had previously closed at $93.63.
Wall Street Analyst Weigh In
Separately, Piper Sandler reaffirmed a “neutral” rating and set a $87.00 price target (up from $82.00) on shares of Tompkins Financial in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Tompkins Financial has an average rating of “Hold” and an average price target of $87.00.
Get Our Latest Stock Analysis on TMP
Tompkins Financial Stock Performance
The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $86.83 and its two-hundred day moving average price is $81.01. The firm has a market capitalization of $1.36 billion, a PE ratio of 8.08 and a beta of 0.75.
Tompkins Financial (NYSEAMERICAN:TMP – Get Free Report) last posted its earnings results on Friday, April 24th. The financial services provider reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.11. The firm had revenue of $83.69 million for the quarter, compared to analyst estimates of $83.64 million. Tompkins Financial had a return on equity of 11.27% and a net margin of 28.93%. On average, equities analysts expect that Tompkins Financial Corporation will post 7.55 earnings per share for the current year.
Tompkins Financial Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, May 8th. Tompkins Financial’s dividend payout ratio is 54.14%.
Insider Activity at Tompkins Financial
In other news, Director Ita M. Rahilly bought 1,164 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average price of $85.90 per share, for a total transaction of $99,987.60. Following the acquisition, the director owned 11,849 shares of the company’s stock, valued at $1,017,829.10. This trade represents a 10.89% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.52% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Tompkins Financial
Several large investors have recently made changes to their positions in TMP. EverSource Wealth Advisors LLC boosted its position in Tompkins Financial by 95.4% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 551 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 269 shares during the period. IFP Advisors Inc lifted its stake in shares of Tompkins Financial by 59,550.0% during the fourth quarter. IFP Advisors Inc now owns 1,193 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 1,191 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Tompkins Financial during the fourth quarter worth about $118,000. Quantbot Technologies LP purchased a new stake in shares of Tompkins Financial in the second quarter worth about $151,000. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Tompkins Financial in the fourth quarter valued at about $171,000. Institutional investors and hedge funds own 69.11% of the company’s stock.
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.