Tompkins Financial (NYSEAMERICAN:TMP) Shares Gap Up to $54.62

Posted by Defense World Staff on May 21st, 2023

Tompkins Financial Co. (NYSEAMERICAN:TMP – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $54.62, but opened at $56.58. Tompkins Financial shares last traded at $54.72, with a volume of 6,053 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently commented on TMP shares. StockNews.com started coverage on shares of Tompkins Financial in a research report on Thursday. They issued a “sell” rating on the stock. TheStreet lowered shares of Tompkins Financial from a “b-” rating to a “c+” rating in a research report on Tuesday, May 2nd.

Tompkins Financial Price Performance

The company has a market capitalization of $779.72 million, a PE ratio of 9.52 and a beta of 0.61. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.83 and a current ratio of 0.83. The company has a fifty day moving average price of $69.42.

Tompkins Financial (NYSEAMERICAN:TMP – Get Rating) last issued its quarterly earnings data on Friday, April 28th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.02. Tompkins Financial had a net margin of 23.88% and a return on equity of 13.17%. The business had revenue of $74.65 million during the quarter, compared to analyst estimates of $76.03 million. On average, analysts predict that Tompkins Financial Co. will post 4.75 earnings per share for the current fiscal year.

Tompkins Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 16th. Shareholders of record on Tuesday, May 9th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, May 8th. This represents a $2.40 annualized dividend and a yield of 4.47%. Tompkins Financial’s payout ratio is 42.55%.

Insider Transactions at Tompkins Financial

In related news, Director Ita M. Rahilly acquired 1,327 shares of Tompkins Financial stock in a transaction dated Tuesday, February 28th. The stock was bought at an average price of $75.38 per share, with a total value of $100,029.26. Following the transaction, the director now directly owns 6,196 shares in the company, valued at approximately $467,054.48. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 4.31% of the company’s stock.

Institutional Trading of Tompkins Financial

Several hedge funds have recently bought and sold shares of TMP. Lazard Asset Management LLC bought a new position in Tompkins Financial during the 4th quarter valued at $28,000. Allspring Global Investments Holdings LLC raised its stake in shares of Tompkins Financial by 3,836.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 433 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 422 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Tompkins Financial by 681.0% during the 3rd quarter. Quadrant Capital Group LLC now owns 453 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 395 shares during the period. Accurate Wealth Management LLC bought a new stake in shares of Tompkins Financial during the 4th quarter worth $42,000. Finally, Captrust Financial Advisors raised its stake in Tompkins Financial by 192.3% in the 1st quarter. Captrust Financial Advisors now owns 532 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 63.57% of the company’s stock.

About Tompkins Financial

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Tompkins Financial Corp. engages in the provision of financial services. It operates through the following segments: Banking, Insurance, and Wealth Management. The Banking segment consists of its banking subsidiaries, including Tompkins Trust Co, The Bank of Castile, Mahopac Bank, and VIST Bank. The Insurance segment offers property and casualty insurance services, and employee benefits consulting.