Tompkins Financial (NYSEAMERICAN:TMP) Hits New 1-Year High After Earnings Beat

Tompkins Financial Co. (NYSEAMERICAN:TMP)’s stock 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 (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.09. Tompkins Financial had a net margin of 15.59% and a return on equity of 9.85%. The firm had revenue of $112.51 million during the quarter. During the same period last year, the business earned ($2.35) EPS.

Tompkins Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, November 8th. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.61. Tompkins Financial’s payout ratio is 52.70%.

Analysts Set New Price Targets

Several research analysts recently weighed in on TMP shares. Keefe, Bruyette & Woods upgraded Tompkins Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $59.00 to $68.00 in a research report on Wednesday, October 2nd. StockNews.com raised shares of Tompkins Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd.

Hedge Funds Weigh In On Tompkins Financial

Several institutional investors and hedge funds have recently modified their holdings of the business. John G Ullman & Associates Inc. lifted its holdings 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 purchasing an additional 70,422 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Tompkins Financial during the 1st quarter worth about $600,000. Bank of Montreal Can purchased a new position in Tompkins Financial in the 2nd quarter valued at about $1,112,000. AQR Capital Management LLC acquired a new stake in Tompkins Financial in the 2nd quarter worth about $468,000. Finally, Dimensional Fund Advisors LP increased its stake in Tompkins Financial by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 571,421 shares of the financial services provider’s stock worth $27,941,000 after buying an additional 34,752 shares in the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Tompkins Financial Trading Up 9.8 %

The firm has a market cap of $960.77 million, a P/E ratio of 14.22 and a beta of 0.69. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.94 and a quick ratio of 0.94.

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.