Gallagher Fiduciary Advisors LLC purchased a new stake in Tompkins Financial Corporation (NYSEAMERICAN:TMP – Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,330 shares of the financial services provider’s stock, valued at approximately $693,000.
Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Tompkins Financial during the second quarter worth about $193,740,000. Bank of New York Mellon Corp purchased a new stake in shares of Tompkins Financial in the 2nd quarter valued at about $11,459,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Tompkins Financial in the 1st quarter valued at about $7,340,000. Rhino Investment Partners Inc boosted its position in shares of 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 purchasing an additional 78,391 shares during the period. Finally, Adage Capital Partners GP L.L.C. purchased a new position in Tompkins Financial during the 4th quarter worth approximately $4,351,000. Institutional investors and hedge funds own 69.11% of the company’s stock.
Tompkins Financial Stock Performance
NYSEAMERICAN TMP opened at $97.70 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. Tompkins Financial Corporation has a 52-week low of $61.88 and a 52-week high of $102.58. The business’s 50-day moving average price is $95.87 and its 200 day moving average price is $87.14. The firm has a market cap of $1.40 billion, a P/E ratio of 8.00 and a beta of 0.74.
Tompkins Financial Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Friday, August 7th were issued a dividend of $0.70 per share. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, August 7th. Tompkins Financial’s dividend payout ratio is 56.57%.
Analysts Set New Price Targets
TMP has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their price target on Tompkins Financial from $98.00 to $105.00 and gave the stock an “outperform” rating in a research report on Monday, July 27th. Piper Sandler raised their target price on shares of Tompkins Financial from $87.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $104.50.
Check Out Our Latest Research Report on TMP
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.
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