Tompkins Financial (NYSEAMERICAN:TMP) Sees Large Volume Increase – Still a Buy?

Tompkins Financial Corporation (NYSEAMERICAN:TMP) saw unusually-high trading volume on Tuesday. Approximately 86,830 shares changed hands during trading, an increase of 6% from the previous session’s volume of 81,796 shares. The stock last traded at $99.80 and had previously closed at $97.17.

Analyst Upgrades and Downgrades

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

Tompkins Financial Stock Up 2.0%

The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.12 and a beta of 0.76. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. The stock’s fifty day moving average price is $97.98 and its 200-day moving average price is $92.35.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its quarterly earnings results on Friday, July 24th. The financial services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.22. The business had revenue of $87.12 million for the quarter, compared to analysts’ expectations of $86.93 million. Tompkins Financial had a return on equity of 11.52% and a net margin of 30.13%. On average, sell-side analysts predict that Tompkins Financial Corporation will post 7.75 earnings per share for the current fiscal year.

Tompkins Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were given a $0.70 dividend. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.67. This represents a $2.80 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, August 7th. Tompkins Financial’s dividend payout ratio (DPR) is presently 56.57%.

Institutional Investors Weigh In On Tompkins Financial

Several hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE bought a new stake in shares of Tompkins Financial during the 2nd quarter valued at $5,636,000. Hsbc Holdings PLC bought a new stake in shares of Tompkins Financial during the 2nd quarter worth $1,215,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Tompkins Financial during the second quarter worth about $1,428,000. Legal & General Group Plc bought a new position in Tompkins Financial during the second quarter valued at approximately $2,618,000. Finally, Deutsche Bank AG purchased a new position in Tompkins Financial in the 2nd quarter worth $1,464,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.

About Tompkins Financial

Tompkins Financial Corporation is a financial services holding company headquartered in Ithaca, New York. Through its banking, insurance and wealth-management subsidiaries, the company provides a range of services to individuals, businesses, municipalities and nonprofit organizations.

The company’s banking operations offer deposit accounts, residential and commercial lending, mortgage services, cash-management solutions, online and mobile banking, and other traditional community-banking products.