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

Tompkins Financial Co. (NYSEAMERICAN:TMP) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $79.01 and last traded at $78.37, with a volume of 13417 shares trading hands. The stock had previously closed at $76.14.

Analysts Set New Price Targets

TMP has been the topic of several research reports. Keefe, Bruyette & Woods raised Tompkins Financial from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $59.00 to $68.00 in a research report on Wednesday, October 2nd. StockNews.com upgraded Tompkins Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd.

Tompkins Financial Stock Performance

The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 16.43 and a beta of 0.67.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its earnings results on Friday, October 25th. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.09. Tompkins Financial had a return on equity of 9.68% and a net margin of 15.59%. The company had revenue of $112.51 million for the quarter. During the same quarter last year, the business earned ($2.35) earnings per share.

Tompkins Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.48 dividend on an annualized basis and a yield of 3.21%. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.61. Tompkins Financial’s dividend payout ratio is presently 53.56%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new position in Tompkins Financial in the 1st quarter worth approximately $600,000. Price T Rowe Associates Inc. MD increased its position in Tompkins Financial by 15.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 16,579 shares of the financial services provider’s stock worth $834,000 after acquiring an additional 2,214 shares during the period. CWM LLC raised its stake in Tompkins Financial by 253.2% during the 2nd quarter. CWM LLC now owns 890 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 638 shares during the last quarter. Cardinal Capital Management boosted its holdings in Tompkins Financial by 11.3% in the 2nd quarter. Cardinal Capital Management now owns 12,863 shares of the financial services provider’s stock valued at $629,000 after purchasing an additional 1,304 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Tompkins Financial in the 2nd quarter worth $282,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.

About Tompkins Financial

Tompkins Financial Corporation, a financial holding company, provides commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance services. The company operates through three segments: Banking, Insurance, and Wealth Management. It accepts various deposit products, including checking and savings accounts, time deposits, and IRA products, as well as brokered, reciprocal, and municipal money market deposits.