Tompkins Financial Corp Reduces Holdings in Tompkins Financial Co. (NYSEAMERICAN:TMP)

Tompkins Financial Corp lessened its stake in Tompkins Financial Co. (NYSEAMERICAN:TMP) by 2.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,151,955 shares of the financial services provider’s stock after selling 30,066 shares during the period. Tompkins Financial accounts for approximately 6.4% of Tompkins Financial Corp’s investment portfolio, making the stock its 2nd largest holding. Tompkins Financial Corp owned about 8.00% of Tompkins Financial worth $66,571,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC increased its position in shares of Tompkins Financial by 3.0% during the third quarter. Chicago Partners Investment Group LLC now owns 11,016 shares of the financial services provider’s stock worth $683,000 after purchasing an additional 317 shares in the last quarter. Eastern Bank purchased a new position in Tompkins Financial during the 3rd quarter worth $67,000. Cardinal Capital Management increased its position in Tompkins Financial by 23.7% during the 3rd quarter. Cardinal Capital Management now owns 15,911 shares of the financial services provider’s stock valued at $919,000 after buying an additional 3,048 shares in the last quarter. nVerses Capital LLC raised its stake in Tompkins Financial by 100.0% in the third quarter. nVerses Capital LLC now owns 600 shares of the financial services provider’s stock valued at $35,000 after buying an additional 300 shares during the last quarter. Finally, LVW Advisors LLC acquired a new stake in Tompkins Financial in the third quarter worth about $236,000. 69.11% of the stock is currently owned by institutional investors.

Tompkins Financial Price Performance

Shares of NYSEAMERICAN TMP opened at $73.70 on Friday. Tompkins Financial Co. has a one year low of $43.09 and a one year high of $78.28. The company has a quick ratio of 0.94, a current ratio of 0.92 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $1.06 billion, a P/E ratio of 15.87 and a beta of 0.67.

Tompkins Financial (NYSEAMERICAN:TMP) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.09. The business had revenue of $112.51 million during the quarter. Tompkins Financial had a return on equity of 9.68% and a net margin of 15.59%. During the same period in the prior year, the company posted ($2.35) earnings per share.

Tompkins Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a dividend of $0.62 per share. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 8th. This represents a $2.48 annualized dividend and a yield of 3.36%. Tompkins Financial’s payout ratio is 52.70%.

Wall Street Analysts Forecast Growth

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

Tompkins Financial Company Profile

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.