Tompkins Financial Co. (NYSEAMERICAN:TMP) Declares Quarterly Dividend of $0.57

Tompkins Financial Co. (NYSEAMERICAN:TMPGet 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.

Tompkins Financial (NYSEAMERICAN:TMPGet Rating) last issued its earnings results on Friday, April 29th. The financial services provider reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.18. Tompkins Financial had a net margin of 27.88% and a return on equity of 12.78%. On average, sell-side analysts forecast that Tompkins Financial will post 5.53 earnings per share for the current fiscal year.

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.

Further Reading

Dividend History for Tompkins Financial (NYSEAMERICAN:TMP)

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