Tompkins Financial (NYSEAMERICAN:TMP) Raised to Buy at Zacks Investment Research

Tompkins Financial (NYSEAMERICAN:TMPGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday, Zacks.com reports. The brokerage currently has a $83.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.15% from the stock’s current price.

According to Zacks, “Tompkins Financial Corporation is a financial services company with $5.5 billion in assets serving the Central, Western and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Headquartered in Ithaca, NY, Tompkins Financial is parent to Tompkins Trust Company, Tompkins Bank of Castile, Tompkins Mahopac Bank, Tompkins VIST Bank, Tompkins Insurance Agencies, Inc., and offers wealth management services through Tompkins Financial Advisors. “

Shares of NYSEAMERICAN TMP opened at $72.08 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.17. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 11.93 and a beta of 0.67. Tompkins Financial has a 12-month low of $69.69 and a 12-month high of $86.42.

Tompkins Financial (NYSEAMERICAN:TMPGet Rating) last posted its quarterly earnings data on Friday, April 29th. The financial services provider reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. Tompkins Financial had a return on equity of 12.78% and a net margin of 27.88%. As a group, equities research analysts expect that Tompkins Financial will post 5.53 EPS for the current year.

In other news, Director Ita M. Rahilly purchased 1,355 shares of the stock in a transaction on Wednesday, May 25th. The stock was bought at an average price of $73.81 per share, with a total value of $100,012.55. Following the transaction, the director now owns 4,763 shares in the company, valued at approximately $351,557.03. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.35% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TMP. Tompkins Financial Corp raised its stake in shares of Tompkins Financial by 397.8% during the 1st quarter. Tompkins Financial Corp now owns 1,236,891 shares of the financial services provider’s stock valued at $96,811,000 after buying an additional 988,410 shares during the last quarter. State Street Corp increased its stake in shares of Tompkins Financial by 3.2% in the 1st quarter. State Street Corp now owns 1,322,536 shares of the financial services provider’s stock valued at $103,515,000 after purchasing an additional 41,413 shares in the last quarter. BlackRock Inc. increased its stake in shares of Tompkins Financial by 1.7% in the 4th quarter. BlackRock Inc. now owns 2,021,166 shares of the financial services provider’s stock valued at $168,928,000 after purchasing an additional 33,304 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Tompkins Financial by 333.7% in the 1st quarter. First Trust Advisors LP now owns 28,442 shares of the financial services provider’s stock valued at $2,164,000 after purchasing an additional 21,884 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in shares of Tompkins Financial in the 1st quarter valued at about $1,462,000. Institutional investors and hedge funds own 59.23% of the company’s stock.

About Tompkins Financial (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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