Keefe, Bruyette & Woods Upgrades Tompkins Financial (NYSEAMERICAN:TMP) to “Outperform”

Keefe, Bruyette & Woods upgraded shares of Tompkins Financial (NYSEAMERICAN:TMP) from a market perform rating to an outperform rating in a research report report published on Wednesday morning, MarketBeat.com reports. The brokerage currently has $68.00 target price on the financial services provider’s stock, up from their prior target price of $59.00.

Separately, StockNews.com raised Tompkins Financial from a sell rating to a hold rating in a research note on Saturday, August 3rd.

Tompkins Financial Price Performance

Shares of NYSEAMERICAN TMP opened at $60.28 on Wednesday. The stock has a market capitalization of $868.03 million, a P/E ratio of 128.26 and a beta of 0.70. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.14. Tompkins Financial has a 52-week low of $43.09 and a 52-week high of $65.54.

Tompkins Financial (NYSEAMERICAN:TMP) last announced its earnings results on Friday, July 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The firm had revenue of $107.02 million during the quarter. Tompkins Financial had a return on equity of 2.16% and a net margin of 4.11%.

Tompkins Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 4.05%. The ex-dividend date was Friday, August 9th. Tompkins Financial’s dividend payout ratio is presently 519.15%.

Institutional Trading of Tompkins Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Tompkins Financial by 1.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,803 shares of the financial services provider’s stock worth $1,801,000 after buying an additional 575 shares in the last quarter. CWM LLC raised its stake in shares of Tompkins Financial by 253.2% during the 2nd quarter. CWM LLC now owns 890 shares of the financial services provider’s stock worth $44,000 after buying an additional 638 shares in the last quarter. EntryPoint Capital LLC raised its stake in shares of Tompkins Financial by 88.3% during the 1st quarter. EntryPoint Capital LLC now owns 1,474 shares of the financial services provider’s stock worth $74,000 after buying an additional 691 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Tompkins Financial by 107.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,801 shares of the financial services provider’s stock worth $108,000 after buying an additional 932 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Tompkins Financial by 23.8% during the 2nd quarter. Sei Investments Co. now owns 5,194 shares of the financial services provider’s stock worth $254,000 after buying an additional 1,000 shares in the last quarter. 69.11% of the stock is owned by hedge funds and other institutional investors.

Tompkins Financial Company Profile

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.