Key Points
- SVP David Kershaw sold 500 shares for $50,285, reducing his stake by 36.58% to 867 shares.
- Tompkins Financial beat quarterly EPS estimates, reporting $2.00 per share versus $1.95 expected, and raised its quarterly dividend from $0.70 to $0.74.
- Analysts’ consensus rating is Hold, with an average price target of $104.50.
Tompkins Financial Corporation (NYSEAMERICAN:TMP - Get Free Report) SVP David Kershaw sold 500 shares of the firm's stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $100.57, for a total value of $50,285.00. Following the sale, the senior vice president owned 867 shares in the company, valued at $87,194.19. The trade was a 36.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Tompkins Financial Trading Down 0.1%
Shares of TMP stock opened at $100.14 on Friday. The business has a 50-day moving average price of $98.78 and a two-hundred day moving average price of $90.09. Tompkins Financial Corporation has a 12-month low of $64.16 and a 12-month high of $105.18. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The firm has a market cap of $1.44 billion, a P/E ratio of 13.13 and a beta of 0.77.
Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last announced its quarterly earnings data on Friday, October 23rd. The financial services provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.95 by $0.05. The firm had revenue of $89.85 million for the quarter, compared to analyst estimates of $89.65 million. Tompkins Financial had a return on equity of 11.59% and a net margin of 30.94%. Equities analysts anticipate that Tompkins Financial Corporation will post 7.90 EPS for the current fiscal year.
Tompkins Financial Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be paid a $0.74 dividend. This is an increase from Tompkins Financial's previous quarterly dividend of $0.70. This represents a $2.96 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, November 6th. Tompkins Financial's payout ratio is currently 59.80%.
Analysts Set New Price Targets
Several research analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Tompkins Financial from $98.00 to $105.00 and gave the stock an "outperform" rating in a research note on Monday, July 27th. Piper Sandler upped their price objective 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. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $104.50.
Get Our Latest Report on TMP
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of TMP. BlackRock Inc. purchased a new position in shares of Tompkins Financial in the second quarter worth about $193,740,000. Rhino Investment Partners Inc lifted its stake 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 acquiring an additional 78,391 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Tompkins Financial in the 2nd quarter valued at about $11,459,000. ProShare Advisors LLC boosted its holdings in Tompkins Financial by 43.3% during the 3rd quarter. ProShare Advisors LLC now owns 107,578 shares of the financial services provider's stock valued at $10,354,000 after acquiring an additional 32,521 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in Tompkins Financial during the 1st quarter valued at about $7,340,000. 69.11% of the stock is owned by institutional investors.
Tompkins Financial Company Profile
(
Get Free Report)
Tompkins Financial Corporation is a financial services holding company based in Ithaca, New York. Through its subsidiaries, it provides banking, insurance and wealth management services to individuals, businesses and institutions. Its banking subsidiary, Tompkins Community Bank, offers deposit accounts, loans and other personal and commercial banking services. Tompkins also provides insurance products through Tompkins Insurance Agencies and financial planning and investment services through Tompkins Financial Advisors.
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