Louisiana State Employees Retirement System Sells 200 Shares of Tompkins Financial Co. (NYSEAMERICAN:TMP)

Louisiana State Employees Retirement System lessened its holdings in Tompkins Financial Co. (NYSEAMERICAN:TMP) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,100 shares of the financial services provider’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Tompkins Financial were worth $353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TMP. Dimensional Fund Advisors LP grew its holdings in Tompkins Financial by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 571,421 shares of the financial services provider’s stock valued at $27,941,000 after purchasing an additional 34,752 shares during the period. ProShare Advisors LLC grew its stake in shares of Tompkins Financial by 13.5% during the 1st quarter. ProShare Advisors LLC now owns 155,834 shares of the financial services provider’s stock valued at $7,837,000 after acquiring an additional 18,579 shares during the period. Bank of New York Mellon Corp increased its holdings 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 acquiring an additional 11,140 shares in the last quarter. Public Sector Pension Investment Board raised its stake in Tompkins Financial by 6.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 27,569 shares of the financial services provider’s stock worth $1,348,000 after acquiring an additional 1,662 shares during the period. Finally, Bank of Montreal Can purchased a new position in Tompkins Financial during the second quarter valued at approximately $1,112,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Analyst Ratings Changes

TMP has been the subject of a number of analyst reports. StockNews.com raised shares of Tompkins Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Keefe, Bruyette & Woods upgraded Tompkins Financial from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $59.00 to $68.00 in a research note on Wednesday, October 2nd.

Tompkins Financial Stock Performance

Shares of TMP opened at $78.15 on Thursday. The firm has a market capitalization of $1.13 billion, a P/E ratio of 16.88 and a beta of 0.67. The company has a current ratio of 0.92, a quick ratio of 0.94 and a debt-to-equity ratio of 0.75. Tompkins Financial Co. has a fifty-two week low of $43.09 and a fifty-two week high of $78.28.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its earnings results on Friday, October 25th. The financial services provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.09. Tompkins Financial had a net margin of 15.59% and a return on equity of 9.68%. The firm had revenue of $112.51 million for the quarter. During the same quarter last year, the firm earned ($2.35) earnings per share.

Tompkins Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.17%. The ex-dividend date is 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 52.70%.

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.