Piper Sandler Initiates Coverage on Tompkins Financial (NYSEAMERICAN:TMP)

Piper Sandler assumed coverage on shares of Tompkins Financial (NYSEAMERICAN:TMP) in a report issued on Friday morning, Marketbeat.com reports. The firm issued a neutral rating and a $70.00 target price on the financial services provider’s stock.

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

Tompkins Financial Price Performance

Shares of NYSEAMERICAN:TMP opened at $69.38 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $998.38 million, a price-to-earnings ratio of 14.98 and a beta of 0.72. Tompkins Financial has a 52-week low of $43.09 and a 52-week high of $79.01.

Tompkins Financial (NYSEAMERICAN:TMP) last announced its earnings results on Friday, October 25th. The financial services provider reported $1.30 EPS for the quarter, topping 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 company had revenue of $112.51 million for the quarter. During the same period in the prior year, the business posted ($2.35) earnings per share.

Tompkins Financial Increases Dividend

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

Institutional Trading of Tompkins Financial

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake 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 purchasing an additional 34,752 shares during the period. Bank of Montreal Can bought a new position in shares of Tompkins Financial during the second quarter worth $1,112,000. Jane Street Group LLC grew its stake in Tompkins Financial by 130.5% during the third quarter. Jane Street Group LLC now owns 25,100 shares of the financial services provider’s stock valued at $1,451,000 after acquiring an additional 14,210 shares in the last quarter. Barclays PLC increased its holdings in Tompkins Financial by 115.7% in the 3rd quarter. Barclays PLC now owns 25,878 shares of the financial services provider’s stock valued at $1,496,000 after acquiring an additional 13,878 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Tompkins Financial by 9.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 126,288 shares of the financial services provider’s stock worth $6,175,000 after purchasing an additional 11,140 shares in the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

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.