Tompkins Financial (NYSEAMERICAN:TMP) Releases Earnings Results, Beats Expectations By $0.22 EPS

Tompkins Financial (NYSEAMERICAN:TMP) posted its quarterly earnings results on Friday. The financial services provider reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.22, FiscalAI reports. Tompkins Financial had a net margin of 28.93% and a return on equity of 11.27%. The business had revenue of $87.12 million during the quarter, compared to the consensus estimate of $86.93 million.

Tompkins Financial Trading Up 6.3%

NYSEAMERICAN TMP traded up $5.83 during trading on Friday, reaching $98.47. 73,508 shares of the stock traded hands, compared to its average volume of 71,661. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 8.44 and a beta of 0.74. The stock’s 50-day moving average price is $90.07 and its 200 day moving average price is $83.41. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.47. Tompkins Financial has a fifty-two week low of $61.21 and a fifty-two week high of $98.45.

Insiders Place Their Bets

In other news, Director Ita M. Rahilly purchased 1,164 shares of Tompkins Financial stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of $85.90 per share, with a total value of $99,987.60. Following the completion of the transaction, the director directly owned 11,849 shares in the company, valued at $1,017,829.10. This trade represents a 10.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.52% of the company’s stock.

Institutional Investors Weigh In On Tompkins Financial

Several large investors have recently modified their holdings of TMP. Millennium Management LLC lifted its holdings in Tompkins Financial by 1.1% during the 4th quarter. Millennium Management LLC now owns 16,863 shares of the financial services provider’s stock valued at $1,223,000 after purchasing an additional 183 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Tompkins Financial by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,556 shares of the financial services provider’s stock valued at $476,000 after purchasing an additional 311 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Tompkins Financial by 8.2% in the second quarter. The Manufacturers Life Insurance Company now owns 4,982 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 378 shares during the last quarter. Swiss National Bank increased its holdings in shares of Tompkins Financial by 1.7% in the fourth quarter. Swiss National Bank now owns 24,200 shares of the financial services provider’s stock valued at $1,755,000 after purchasing an additional 400 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Tompkins Financial by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,973 shares of the financial services provider’s stock valued at $1,376,000 after purchasing an additional 513 shares during the period. 69.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Piper Sandler reaffirmed a “neutral” rating and set a $87.00 target price (up from $82.00) on shares of Tompkins Financial in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $87.00.

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.