First Trust Advisors LP Makes New $490,000 Investment in Tompkins Financial Corporation $TMP

First Trust Advisors LP bought a new stake in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,210 shares of the financial services provider’s stock, valued at approximately $490,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of Tompkins Financial by 37.2% in the 1st quarter. Royal Bank of Canada now owns 14,025 shares of the financial services provider’s stock worth $883,000 after buying an additional 3,801 shares during the last quarter. AQR Capital Management LLC grew its position 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. grew its position in shares of Tompkins Financial by 4.3% during 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 last quarter. Jane Street Group LLC raised its stake in Tompkins Financial by 290.9% during the first quarter. Jane Street Group LLC now owns 24,706 shares of the financial services provider’s stock worth $1,556,000 after acquiring an additional 18,385 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Tompkins Financial during the second quarter worth about $345,000. 69.11% of the stock is owned by institutional investors and hedge funds.

Tompkins Financial Stock Performance

Shares of TMP opened at $99.10 on Wednesday. Tompkins Financial Corporation has a 1 year low of $61.88 and a 1 year high of $102.02. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 8.12 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a fifty day moving average of $93.84 and a 200-day moving average of $85.70.

Tompkins Financial (NYSEAMERICAN:TMP) last released its quarterly earnings results on Friday, July 24th. The financial services provider reported $2.04 EPS for the quarter, topping the consensus estimate of $1.82 by $0.22. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. The business had revenue of $87.12 million during the quarter, compared to analyst estimates of $86.93 million. As a group, equities analysts anticipate that Tompkins Financial Corporation will post 7.75 earnings per share for the current year.

Tompkins Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Friday, August 7th will be given a $0.70 dividend. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, August 7th. This represents a $2.80 annualized dividend and a yield of 2.8%. Tompkins Financial’s payout ratio is currently 56.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TMP shares. Piper Sandler lifted their target price on Tompkins Financial from $87.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods increased their price target on Tompkins Financial from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $104.50.

Insider Buying and Selling

In other news, Director Ita M. Rahilly bought 1,164 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was purchased at an average price of $85.90 per share, for a total transaction of $99,987.60. Following the transaction, the director owned 11,849 shares in the company, valued at approximately $1,017,829.10. This trade represents a 10.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.52% 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.