Tompkins Financial (NYSEAMERICAN:TMP) Shares Pass Above Fifty Day Moving Average – Here’s Why

Shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $78.70 and traded as high as $79.05. Tompkins Financial shares last traded at $78.84, with a volume of 67,270 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Zacks Research raised Tompkins Financial to a “hold” rating in a research report on Thursday, December 4th. Piper Sandler assumed coverage on shares of Tompkins Financial in a report on Wednesday, December 3rd. They issued a “neutral” rating and a $74.00 price target on the stock. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Tompkins Financial presently has a consensus rating of “Hold” and an average target price of $74.00.

Tompkins Financial Price Performance

The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.60. The business’s fifty day moving average is $78.70 and its 200 day moving average is $72.73. The company has a market cap of $1.14 billion, a P/E ratio of 7.03 and a beta of 0.78.

Tompkins Financial (NYSEAMERICAN:TMP) last announced its quarterly earnings data on Friday, January 30th. The financial services provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.01. Tompkins Financial had a return on equity of 11.19% and a net margin of 27.82%.The business had revenue of $257.30 million during the quarter, compared to analyst estimates of $136.16 million. As a group, sell-side analysts anticipate that Tompkins Financial Corporation will post 5.46 EPS for the current year.

Tompkins Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, February 22nd. Stockholders of record on Friday, February 13th were paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, February 13th. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.65. Tompkins Financial’s dividend payout ratio is currently 54.14%.

Institutional Investors Weigh In On Tompkins Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. purchased a new stake in Tompkins Financial during the fourth quarter valued at about $4,351,000. Invesco Ltd. raised its position in shares of Tompkins Financial by 95.9% in the second quarter. Invesco Ltd. now owns 98,191 shares of the financial services provider’s stock valued at $6,160,000 after purchasing an additional 48,064 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Tompkins Financial by 43.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 102,891 shares of the financial services provider’s stock valued at $7,462,000 after purchasing an additional 31,171 shares during the period. AQR Capital Management LLC lifted its stake in shares of Tompkins Financial by 62.3% during the 4th quarter. AQR Capital Management LLC now owns 68,928 shares of the financial services provider’s stock valued at $4,999,000 after buying an additional 26,457 shares in the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of Tompkins Financial by 290.9% during the 1st quarter. Jane Street Group LLC now owns 24,706 shares of the financial services provider’s stock valued at $1,556,000 after buying an additional 18,385 shares in the last quarter. 69.11% of the stock is currently owned by institutional investors.

About Tompkins Financial

Tompkins Financial (NYSEAMERICAN:TMP) is a bank holding company headquartered in Ithaca, New York, that provides a diversified range of financial services. Through its principal banking subsidiary, Tompkins Trust Company, the firm offers commercial and consumer banking products including checking and savings accounts, mortgage loans, and credit facilities. Beyond traditional banking, Tompkins Financial delivers asset management, trust and estate planning, retirement services and investment advisory solutions.

In addition to its core banking operations, Tompkins Financial operates Tompkins Insurance Agencies, which offers property and casualty, life and health insurance coverages to individuals and businesses.