Tompkins Financial (NYSEAMERICAN:TMP) Price Target Raised to $105.00

Tompkins Financial (NYSEAMERICAN:TMP) had its price objective upped by Keefe, Bruyette & Woods from $98.00 to $105.00 in a research report released on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Separately, Piper Sandler restated a “neutral” rating and issued a $87.00 price objective (up from $82.00) on shares of Tompkins Financial in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Tompkins Financial has an average rating of “Hold” and an average price target of $96.00.

Tompkins Financial Stock Down 1.8%

Shares of TMP opened at $99.44 on Monday. Tompkins Financial has a 52 week low of $61.21 and a 52 week high of $102.02. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.14 and a beta of 0.74. The stock’s 50-day moving average price is $91.41 and its 200-day moving average price is $84.16.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its 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. The firm had revenue of $87.12 million for the quarter, compared to analyst estimates 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 will post 7.55 EPS for the current year.

Tompkins Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, August 7th will be paid a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 7th. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.67. Tompkins Financial’s dividend payout ratio is currently 54.14%.

Insider Activity

In other Tompkins Financial news, Director Ita M. Rahilly bought 1,164 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were purchased at an average cost of $85.90 per share, for a total transaction of $99,987.60. Following the transaction, the director directly owned 11,849 shares of the company’s stock, valued at approximately $1,017,829.10. The trade was a 10.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.52% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Tompkins Financial

A number of hedge funds have recently bought and sold shares of TMP. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Tompkins Financial during the 2nd quarter worth approximately $284,000. Bank of America Corp DE grew its stake in Tompkins Financial by 20.4% in the 1st quarter. Bank of America Corp DE now owns 57,050 shares of the financial services provider’s stock valued at $4,498,000 after acquiring an additional 9,684 shares during the period. Rhino Investment Partners Inc grew its stake in Tompkins Financial by 88.5% in the 1st quarter. Rhino Investment Partners Inc now owns 166,941 shares of the financial services provider’s stock valued at $13,162,000 after acquiring an additional 78,391 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Tompkins Financial by 42.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 5,960 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 1,785 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in Tompkins Financial by 22.9% in the 1st quarter. Quantinno Capital Management LP now owns 19,754 shares of the financial services provider’s stock worth $1,557,000 after acquiring an additional 3,676 shares in the last quarter. Hedge funds and other institutional investors 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.