Tompkins Financial (NYSEAMERICAN:TMP) Reaches New 52-Week High – Here’s Why

Tompkins Financial Corporation (NYSEAMERICAN:TMP – Get Free Report)’s stock price hit a new 52-week high during trading on Wednesday. The stock traded as high as $105.00 and last traded at $102.5460, with a volume of 19,097 shares changing hands. The stock had previously closed at $99.73.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of 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 boosted their target price on Tompkins Financial from $87.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $104.50.

Read Our Latest Research Report on Tompkins Financial

Tompkins Financial Stock Performance

The company has a quick ratio of 0.95, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The business has a 50 day simple moving average of $98.46 and a two-hundred day simple moving average of $89.51. The firm has a market cap of $1.44 billion, a PE ratio of 7.96 and a beta of 0.77.

Tompkins Financial (NYSEAMERICAN:TMP – Get Free Report) last released its earnings results on Friday, October 23rd. The financial services provider reported $2.00 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.05. The business had revenue of $89.85 million during the quarter, compared to the consensus estimate of $89.65 million. Tompkins Financial had a return on equity of 11.59% and a net margin of 30.94%. As a group, equities research analysts forecast that Tompkins Financial Corporation will post 7.75 earnings per share for the current fiscal year.

Tompkins Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, November 6th. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.70. Tompkins Financial’s dividend payout ratio (DPR) is 56.57%.

Institutional Investors Weigh In On Tompkins Financial

Large investors have recently added to or reduced their stakes in the stock. Nykredit A S purchased a new stake in Tompkins Financial in the second quarter worth about $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in Tompkins Financial during the 2nd quarter valued at about $27,000. Bard Associates Inc. purchased a new position in Tompkins Financial during the 2nd quarter valued at about $28,000. Trust Co. of Vermont purchased a new position in Tompkins Financial during the 2nd quarter valued at about $42,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Tompkins Financial during the 2nd quarter valued at about $51,000. 69.11% of the stock is owned by hedge funds and other institutional investors.

Tompkins Financial Company Profile

(Get Free Report)

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.

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