Bank of New York Mellon Corp Buys 11,140 Shares of Tompkins Financial Co. (NYSEAMERICAN:TMP)

Bank of New York Mellon Corp grew its stake in shares of Tompkins Financial Co. (NYSEAMERICAN:TMP) by 9.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,288 shares of the financial services provider’s stock after buying an additional 11,140 shares during the period. Bank of New York Mellon Corp’s holdings in Tompkins Financial were worth $6,175,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. John G Ullman & Associates Inc. boosted its holdings in Tompkins Financial by 224.0% in the 1st quarter. John G Ullman & Associates Inc. now owns 101,865 shares of the financial services provider’s stock worth $5,123,000 after buying an additional 70,422 shares during the period. Dimensional Fund Advisors LP raised its stake in Tompkins Financial by 4.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 530,926 shares of the financial services provider’s stock valued at $31,978,000 after purchasing an additional 22,252 shares during the period. ProShare Advisors LLC boosted its stake in Tompkins Financial by 13.5% in the 1st quarter. ProShare Advisors LLC now owns 155,834 shares of the financial services provider’s stock worth $7,837,000 after purchasing an additional 18,579 shares during the period. Quadrature Capital Ltd purchased a new stake in Tompkins Financial during the 1st quarter valued at approximately $600,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Tompkins Financial by 6.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 163,688 shares of the financial services provider’s stock valued at $9,859,000 after buying an additional 9,442 shares during the last quarter. 69.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on TMP shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $59.00 price target (up previously from $50.00) on shares of Tompkins Financial in a research note on Monday, July 29th. StockNews.com upgraded shares of Tompkins Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd.

Tompkins Financial Price Performance

NYSEAMERICAN TMP opened at $56.01 on Friday. Tompkins Financial Co. has a fifty-two week low of $43.09 and a fifty-two week high of $65.54. The company has a market cap of $806.54 million, a PE ratio of 119.17 and a beta of 0.70. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.94 and a current ratio of 0.94.

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

Tompkins Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend was Friday, August 9th. Tompkins Financial’s dividend payout ratio is currently 519.15%.

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.