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

Shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) reached a new 52-week high during trading on Friday . The stock traded as high as $80.47 and last traded at $80.12, with a volume of 88499 shares changing hands. The stock had previously closed at $76.73.

Analyst Ratings Changes

Several research analysts recently commented on TMP shares. Zacks Research upgraded shares of Tompkins Financial to a “hold” rating in a research note on Thursday, December 4th. Piper Sandler began coverage on Tompkins Financial in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $74.00 price target for the company. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $74.00.

Tompkins Financial Stock Up 4.4%

The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 13.60 and a beta of 0.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.92 and a quick ratio of 0.92. The business has a fifty day moving average price of $73.74 and a two-hundred day moving average price of $69.02.

Insider Transactions at Tompkins Financial

In other Tompkins Financial news, Director Ita M. Rahilly acquired 1,463 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was acquired at an average cost of $68.36 per share, for a total transaction of $100,010.68. Following the purchase, the director owned 10,511 shares in the company, valued at approximately $718,531.96. The trade was a 16.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.94% of the company’s stock.

Institutional Trading of Tompkins Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in TMP. Royal Bank of Canada boosted its holdings in Tompkins Financial by 37.2% in the first 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 last quarter. AQR Capital Management LLC raised 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 valued at $476,000 after buying an additional 311 shares during the period. Jane Street Group LLC lifted its holdings in shares of 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 valued at $1,556,000 after buying an additional 18,385 shares during the period. Finally, State of Alaska Department of Revenue boosted its stake in shares of Tompkins Financial by 7.1% in the second quarter. State of Alaska Department of Revenue now owns 7,455 shares of the financial services provider’s stock worth $467,000 after buying an additional 496 shares during the last quarter. Institutional investors and hedge funds own 69.11% of the company’s stock.

Tompkins Financial Company Profile

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.