Maryland State Retirement & Pension System Trims Holdings in Tompkins Financial Co. (NYSEAMERICAN:TMP)

Maryland State Retirement & Pension System cut its stake in Tompkins Financial Co. (NYSEAMERICAN:TMP) by 5.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,369 shares of the financial services provider’s stock after selling 234 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Tompkins Financial were worth $214,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. John G Ullman & Associates Inc. boosted its stake in Tompkins Financial by 224.0% during the first quarter. John G Ullman & Associates Inc. now owns 101,865 shares of the financial services provider’s stock valued at $5,123,000 after buying an additional 70,422 shares during the period. Dimensional Fund Advisors LP boosted its stake in Tompkins Financial by 4.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 530,926 shares of the financial services provider’s stock valued at $31,978,000 after buying an additional 22,252 shares during the period. ProShare Advisors LLC boosted its stake in Tompkins Financial by 13.5% during the first quarter. ProShare Advisors LLC now owns 155,834 shares of the financial services provider’s stock valued at $7,837,000 after buying an additional 18,579 shares during the period. Quadrature Capital Ltd bought a new stake in Tompkins Financial during the first quarter valued at $600,000. Finally, Bank of New York Mellon Corp boosted its stake in Tompkins Financial by 9.7% during the second quarter. Bank of New York Mellon Corp now owns 126,288 shares of the financial services provider’s stock valued at $6,175,000 after buying an additional 11,140 shares during the period. 69.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Tompkins Financial Stock Down 1.3 %

Shares of TMP stock opened at $59.11 on Thursday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.94 and a quick ratio of 0.94. Tompkins Financial Co. has a 12-month low of $43.09 and a 12-month high of $65.54. The stock has a market cap of $851.18 million, a price-to-earnings ratio of 125.77 and a beta of 0.70.

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

Tompkins Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were issued a $0.61 dividend. The ex-dividend date was Friday, August 9th. This represents a $2.44 annualized dividend and a dividend yield of 4.13%. Tompkins Financial’s dividend payout ratio is currently 519.15%.

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.