Eastern Bank Makes New Investment in Tompkins Financial Co. (NYSEAMERICAN:TMP)

Eastern Bank purchased a new position in Tompkins Financial Co. (NYSEAMERICAN:TMP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,168 shares of the financial services provider’s stock, valued at approximately $67,000.

A number of other hedge funds have also modified their holdings of the company. nVerses Capital LLC lifted its holdings 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 worth $35,000 after buying an additional 300 shares in the last quarter. CWM LLC lifted its holdings 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 buying an additional 638 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Tompkins Financial by 89.0% in the third quarter. GAMMA Investing LLC now owns 877 shares of the financial services provider’s stock worth $51,000 after buying an additional 413 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in shares of Tompkins Financial by 88.3% in the first quarter. EntryPoint Capital LLC now owns 1,474 shares of the financial services provider’s stock worth $74,000 after buying an additional 691 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Tompkins Financial by 107.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,801 shares of the financial services provider’s stock worth $108,000 after buying an additional 932 shares in the last quarter. 69.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TMP. Keefe, Bruyette & Woods raised shares of Tompkins Financial from a “market perform” rating to an “outperform” rating and upped their price target for the company from $59.00 to $68.00 in a research note on Wednesday, October 2nd. StockNews.com raised shares of Tompkins Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd.

Tompkins Financial Stock Down 1.5 %

Tompkins Financial stock opened at $60.93 on Friday. The firm has a market cap of $877.39 million, a P/E ratio of 62.17 and a beta of 0.69. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.14. Tompkins Financial Co. has a 52-week low of $43.09 and a 52-week high of $65.99.

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

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.