Tompkins Financial Corporation (NYSEAMERICAN:TMP) Increases Dividend to $0.67 Per Share

Tompkins Financial Corporation (NYSEAMERICAN:TMP) announced a quarterly dividend on Thursday, January 29th. Stockholders of record on Friday, February 13th will be paid a dividend of 0.67 per share by the financial services provider on Sunday, February 22nd. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, February 13th. This is a 3.1% increase from Tompkins Financial’s previous quarterly dividend of $0.65.

Tompkins Financial has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tompkins Financial to earn $6.10 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 40.7%.

Tompkins Financial Stock Down 1.5%

Shares of NYSEAMERICAN TMP traded down $1.28 during midday trading on Wednesday, reaching $84.03. 27,253 shares of the company’s stock traded hands, compared to its average volume of 63,686. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 7.49 and a beta of 0.79. The stock’s 50 day simple moving average is $75.98 and its 200-day simple moving average is $70.12. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.60. Tompkins Financial has a one year low of $54.16 and a one year high of $86.95.

Tompkins Financial (NYSEAMERICAN:TMP) last issued its quarterly earnings data on Friday, January 30th. The financial services provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.01. Tompkins Financial had a net margin of 27.82% and a return on equity of 11.19%. The company had revenue of $257.30 million during the quarter, compared to the consensus estimate of $136.16 million. On average, analysts predict that Tompkins Financial will post 5.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Zacks Research upgraded shares of Tompkins Financial to a “hold” rating in a research note on Thursday, December 4th. Piper Sandler assumed coverage on Tompkins Financial in a research report on Wednesday, December 3rd. They set a “neutral” rating and a $74.00 target price on the stock. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $74.00.

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.