Tompkins Financial Co. (NYSEAMERICAN:TMP – Get Rating) announced a quarterly dividend on Monday, May 2nd, Wall Street Journal reports. Stockholders of record on Tuesday, May 10th will be paid a dividend of 0.57 per share by the financial services provider on Monday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Monday, May 9th.
Tompkins Financial has raised its dividend payment by an average of 4.1% per year over the last three years and has raised its dividend annually for the last 36 consecutive years. Tompkins Financial has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Tompkins Financial to earn $6.05 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 37.7%.
Shares of TMP stock opened at $74.47 on Tuesday. Tompkins Financial has a 1 year low of $72.52 and a 1 year high of $86.42. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.09 billion, a PE ratio of 12.33 and a beta of 0.67.
Separately, Zacks Investment Research downgraded shares of Tompkins Financial from a “hold” rating to a “sell” rating in a report on Tuesday, April 26th.
A number of institutional investors have recently modified their holdings of TMP. Public Employees Retirement System of Ohio lifted its stake in Tompkins Financial by 42.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 575 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 170 shares in the last quarter. Two Sigma Investments LP purchased a new stake in Tompkins Financial in the 3rd quarter worth $246,000. Millennium Management LLC purchased a new stake in Tompkins Financial in the 2nd quarter worth $556,000. Royal Bank of Canada lifted its stake in Tompkins Financial by 9.9% in the 3rd quarter. Royal Bank of Canada now owns 8,559 shares of the financial services provider’s stock worth $693,000 after purchasing an additional 768 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Tompkins Financial by 5.8% in the 4th quarter. Deutsche Bank AG now owns 9,193 shares of the financial services provider’s stock worth $768,000 after purchasing an additional 500 shares in the last quarter. 59.23% of the stock is owned by institutional investors.
Tompkins Financial Company Profile (Get Rating)
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 in three segments: Banking, Insurance, and Wealth Management. It accepts various deposit products, including checking accounts, savings accounts, time deposits, and IRA products, as well as brokered, reciprocal, and municipal money market deposits.
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