Tompkins Financial Corporation (NYSEAMERICAN:TMP – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $102.80 and last traded at $100.83, with a volume of 31,803 shares traded. The stock had previously closed at $100.78.
The financial services provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.05. Tompkins Financial had a return on equity of 11.52% and a net margin of 30.13%. The business had revenue of $89.85 million for the quarter, compared to analyst estimates of $89.65 million.
Analysts Set New Price Targets
A number of research firms have recently weighed in on TMP. Piper Sandler raised their price target on shares of Tompkins Financial from $87.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods upped their price target on shares of Tompkins Financial from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.50.
Get Our Latest Analysis on Tompkins Financial
Institutional Investors Weigh In On Tompkins Financial
Several hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP increased its position in Tompkins Financial by 4.1% in the 2nd quarter. Allworth Financial LP now owns 2,709 shares of the financial services provider’s stock valued at $256,000 after acquiring an additional 106 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Tompkins Financial by 1.2% during the first quarter. Chicago Partners Investment Group LLC now owns 11,697 shares of the financial services provider’s stock valued at $978,000 after acquiring an additional 133 shares during the last quarter. Nykredit A S acquired a new position in shares of Tompkins Financial during the second quarter worth $25,000. Illinois Municipal Retirement Fund lifted its holdings in shares of Tompkins Financial by 4.3% during the first quarter. Illinois Municipal Retirement Fund now owns 6,750 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 279 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Tompkins Financial during the second quarter worth $27,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.
Tompkins Financial Trading Up 0.2%
The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57. The company has a market cap of $1.45 billion, a P/E ratio of 8.28 and a beta of 0.76. The firm’s 50 day moving average is $97.95 and its two-hundred day moving average is $92.76.
About Tompkins Financial
Tompkins Financial Corporation is a financial services holding company headquartered in Ithaca, New York. Through its subsidiaries, the company provides banking, insurance and wealth-management services to individuals, families, businesses and municipal organizations.
Its banking operations are conducted primarily through Tompkins Community Bank, which offers deposit accounts, residential and commercial lending, mortgages, cash-management services, online banking and other financial products.
See Also
- Five stocks we like better than Tompkins Financial
- Tractor Supply’s Q3 Beat Plants the Seeds for a Stock Rebound
- WD-40 Could Reward Patient Investors—Here’s Why
- NextEra and Dominion Have a Deal—Now Comes the Hard Part
- Microsoft’s Earnings Problem: Even Great May Not Be Enough
Receive News & Ratings for Tompkins Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tompkins Financial and related companies with MarketBeat.com's FREE daily email newsletter.
