Tompkins Financial Corporation (NYSEAMERICAN:TMP – Get Free Report) hit a new 52-week high on Tuesday after an insider bought additional shares in the company. The stock traded as high as $87.12 and last traded at $87.12, with a volume of 8117 shares. The stock had previously closed at $86.12.
Specifically, Director Ita M. Rahilly bought 1,164 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of $85.90 per share, for a total transaction of $99,987.60. Following the completion of the purchase, the director owned 11,849 shares in the company, valued at $1,017,829.10. This represents a 10.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Wall Street Analysts Forecast Growth
Separately, Piper Sandler restated a “neutral” rating and issued a $87.00 target price (up from $82.00) on shares of Tompkins Financial in a research note on Tuesday, April 28th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $87.00.
Tompkins Financial Stock Performance
The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 7.46 and a beta of 0.76. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50 day moving average price of $82.23 and a two-hundred day moving average price of $77.66.
Tompkins Financial (NYSEAMERICAN:TMP – Get Free Report) last announced its earnings results on Friday, April 24th. The financial services provider reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.11. Tompkins Financial had a return on equity of 11.27% and a net margin of 28.93%.The company had revenue of $83.70 million during the quarter, compared to analyst estimates of $83.64 million. On average, analysts predict that Tompkins Financial Corporation will post 7.55 EPS for the current fiscal year.
Tompkins Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, May 8th. Tompkins Financial’s dividend payout ratio (DPR) is presently 54.14%.
Institutional Trading of Tompkins Financial
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMP. Royal Bank of Canada increased its position in Tompkins Financial by 37.2% in the first quarter. Royal Bank of Canada now owns 14,025 shares of the financial services provider’s stock worth $883,000 after purchasing an additional 3,801 shares during the period. AQR Capital Management LLC increased its position in Tompkins Financial by 207.4% in the first quarter. AQR Capital Management LLC now owns 35,941 shares of the financial services provider’s stock worth $2,264,000 after purchasing an additional 24,249 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in 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 worth $476,000 after purchasing an additional 311 shares during the period. Jane Street Group LLC increased its position in Tompkins Financial by 290.9% in the first quarter. Jane Street Group LLC now owns 24,706 shares of the financial services provider’s stock worth $1,556,000 after purchasing an additional 18,385 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Tompkins Financial in the second quarter worth about $345,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.
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.
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