Tompkins Financial (NYSEAMERICAN:TMP) Sets New 12-Month High Following Strong Earnings

Tompkins Financial Co. (NYSEAMERICAN:TMP)’s share price hit a new 52-week high on Monday following a stronger than expected earnings report. The stock traded as high as $66.08 and last traded at $65.94, with a volume of 32812 shares changing hands. The stock had previously closed at $60.75.

The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.09. Tompkins Financial had a return on equity of 9.85% and a net margin of 15.59%. The business had revenue of $112.51 million for the quarter. During the same period last year, the business posted ($2.35) earnings per share.

Tompkins Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.62 dividend. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Friday, November 8th. Tompkins Financial’s payout ratio is currently 52.70%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TMP. StockNews.com upgraded shares of Tompkins Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. Keefe, Bruyette & Woods raised shares of 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 research report on Wednesday, October 2nd.

Institutional Investors Weigh In On Tompkins Financial

Several institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC boosted its stake in shares of Tompkins Financial by 100.0% in the third quarter. nVerses Capital LLC now owns 600 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 300 shares during the period. Chicago Partners Investment Group LLC boosted its position in Tompkins Financial by 3.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,016 shares of the financial services provider’s stock valued at $683,000 after buying an additional 317 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Tompkins Financial by 89.0% during the third quarter. GAMMA Investing LLC now owns 877 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 413 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Tompkins Financial by 1.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,803 shares of the financial services provider’s stock worth $1,801,000 after acquiring an additional 575 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Tompkins Financial by 253.2% in the second quarter. CWM LLC now owns 890 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 638 shares in the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Tompkins Financial Stock Up 0.6 %

The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.14. The firm has a market cap of $966.67 million, a P/E ratio of 14.50 and a beta of 0.69.

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.