Tompkins Financial Co. (NYSEAMERICAN:TMP) Announces Quarterly Dividend of $0.62

Tompkins Financial Co. (NYSEAMERICAN:TMP) declared a quarterly dividend on Friday, January 31st,RTT News reports. Shareholders of record on Friday, February 14th will be paid a dividend of 0.62 per share by the financial services provider on Friday, February 21st. This represents a $2.48 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, February 14th.

Tompkins Financial has raised its dividend by an average of 3.7% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Tompkins Financial has a payout ratio of 39.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Tompkins Financial to earn $6.10 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 40.7%.

Tompkins Financial Stock Up 1.6 %

Shares of TMP stock opened at $72.29 on Wednesday. Tompkins Financial has a fifty-two week low of $43.09 and a fifty-two week high of $79.01. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.92 and a current ratio of 0.96. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 14.69 and a beta of 0.73.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler assumed coverage on Tompkins Financial in a research report on Friday, December 20th. They issued a “neutral” rating and a $70.00 target price on the stock.

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.