Principal Financial Group Inc. Has $3.41 Million Stock Position in Tompkins Financial Co. (NYSEAMERICAN:TMP)

Principal Financial Group Inc. lessened its position in shares of Tompkins Financial Co. (NYSEAMERICAN:TMP) by 4.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 59,063 shares of the financial services provider’s stock after selling 2,795 shares during the quarter. Principal Financial Group Inc.’s holdings in Tompkins Financial were worth $3,413,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TMP. FMR LLC raised its holdings in Tompkins Financial by 14.3% during the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $100,000 after purchasing an additional 216 shares during the last quarter. nVerses Capital LLC grew its position in shares of Tompkins Financial by 100.0% during the 3rd quarter. nVerses Capital LLC now owns 600 shares of the financial services provider’s stock worth $35,000 after buying an additional 300 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Tompkins Financial by 3.0% during the third quarter. Chicago Partners Investment Group LLC now owns 11,016 shares of the financial services provider’s stock worth $683,000 after buying an additional 317 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Tompkins Financial by 89.0% in the third quarter. GAMMA Investing LLC now owns 877 shares of the financial services provider’s stock valued at $51,000 after buying an additional 413 shares during the period. Finally, Sei Investments Co. boosted its stake in Tompkins Financial by 23.8% in the second quarter. Sei Investments Co. now owns 5,194 shares of the financial services provider’s stock valued at $254,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 69.11% of the company’s stock.

Tompkins Financial Price Performance

Tompkins Financial stock opened at $67.55 on Friday. Tompkins Financial Co. has a fifty-two week low of $43.09 and a fifty-two week high of $79.01. 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 company has a market cap of $972.04 million, a P/E ratio of 14.59 and a beta of 0.72.

Tompkins Financial (NYSEAMERICAN:TMP) last announced its quarterly 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 company had revenue of $112.51 million for the quarter. During the same period in the prior year, the business earned ($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 issued a $0.62 dividend. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, November 8th. Tompkins Financial’s dividend payout ratio is 53.56%.

Analyst Ratings Changes

Several analysts have commented on TMP shares. Keefe, Bruyette & Woods upgraded shares of Tompkins Financial from a “market perform” rating to an “outperform” rating and upped their target price for the company from $59.00 to $68.00 in a research report on Wednesday, October 2nd. Piper Sandler assumed coverage on Tompkins Financial in a research note on Friday, December 20th. They set a “neutral” rating and a $70.00 price objective for the company.

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.