Tompkins Financial (NYSEAMERICAN:TMP) Research Coverage Started at Piper Sandler

Piper Sandler started coverage on shares of Tompkins Financial (NYSEAMERICAN:TMP) in a research note released on Friday morning, MarketBeat Ratings reports. The firm issued a neutral rating and a $70.00 price objective on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods upgraded Tompkins Financial from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $59.00 to $68.00 in a report on Wednesday, October 2nd.

Tompkins Financial Price Performance

NYSEAMERICAN TMP opened at $69.38 on Friday. The stock has a market capitalization of $998.38 million, a PE ratio of 14.98 and a beta of 0.72. Tompkins Financial has a 1-year low of $43.09 and a 1-year high of $79.01. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.92 and a quick ratio of 0.92.

Tompkins Financial (NYSEAMERICAN:TMP) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.09. Tompkins Financial had a return on equity of 9.68% and a net margin of 15.59%. The firm had revenue of $112.51 million during the quarter. During the same period last year, the company posted ($2.35) EPS.

Tompkins Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a $0.62 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.48 annualized dividend and a dividend yield of 3.57%. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.61. Tompkins Financial’s dividend payout ratio is presently 53.56%.

Hedge Funds Weigh In On Tompkins Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can bought a new stake in shares of Tompkins Financial during the second quarter valued at approximately $1,112,000. AQR Capital Management LLC bought a new position in shares of Tompkins Financial during the second quarter valued at $468,000. Intech Investment Management LLC purchased a new stake in shares of Tompkins Financial during the third quarter valued at $215,000. Atria Investments Inc increased its holdings in Tompkins Financial by 32.8% in the 3rd quarter. Atria Investments Inc now owns 6,943 shares of the financial services provider’s stock worth $401,000 after buying an additional 1,713 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Tompkins Financial by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 571,421 shares of the financial services provider’s stock worth $27,941,000 after buying an additional 34,752 shares during the last quarter. 69.11% of the stock is currently owned by 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.