Cardinal Capital Management Increases Stock Position in Tompkins Financial Co. (NYSEAMERICAN:TMP)

Cardinal Capital Management lifted its holdings in shares of Tompkins Financial Co. (NYSEAMERICAN:TMP) by 23.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,911 shares of the financial services provider’s stock after purchasing an additional 3,048 shares during the period. Cardinal Capital Management owned about 0.11% of Tompkins Financial worth $919,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. John G Ullman & Associates Inc. lifted its holdings in Tompkins Financial by 224.0% in the 1st quarter. John G Ullman & Associates Inc. now owns 101,865 shares of the financial services provider’s stock valued at $5,123,000 after purchasing an additional 70,422 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Tompkins Financial in the first quarter valued at approximately $600,000. Bank of Montreal Can purchased a new position in shares of Tompkins Financial during the second quarter valued at approximately $1,112,000. AQR Capital Management LLC acquired a new stake in Tompkins Financial during the second quarter worth approximately $468,000. Finally, Dimensional Fund Advisors LP grew its stake in Tompkins Financial by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 571,421 shares of the financial services provider’s stock worth $27,941,000 after acquiring an additional 34,752 shares during the period. 69.11% of the stock is currently owned by institutional investors and hedge funds.

Tompkins Financial Trading Down 2.8 %

Shares of NYSEAMERICAN TMP opened at $64.17 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.94 and a quick ratio of 0.94. Tompkins Financial Co. has a 12-month low of $43.09 and a 12-month high of $65.99. The firm has a market capitalization of $924.05 million, a P/E ratio of 65.48 and a beta of 0.69.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its earnings results on Friday, July 26th. The financial services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $107.02 million during the quarter. Tompkins Financial had a return on equity of 2.16% and a net margin of 4.11%.

Tompkins Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $2.44 dividend on an annualized basis and a yield of 3.80%. Tompkins Financial’s payout ratio is currently 248.98%.

Analysts Set New Price Targets

TMP has been the topic of several analyst reports. Keefe, Bruyette & Woods upgraded Tompkins Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $59.00 to $68.00 in a report on Wednesday, October 2nd. StockNews.com raised Tompkins Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd.

About Tompkins Financial

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 through three segments: Banking, Insurance, and Wealth Management. It accepts various deposit products, including checking and savings accounts, time deposits, and IRA products, as well as brokered, reciprocal, and municipal money market deposits.