W.G. Shaheen & Associates DBA Whitney & Co Decreases Stake in Tompkins Financial Co. (NYSEAMERICAN:TMP)

W.G. Shaheen & Associates DBA Whitney & Co reduced its holdings in Tompkins Financial Co. (NYSEAMERICAN:TMP) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,130 shares of the financial services provider’s stock after selling 600 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Tompkins Financial were worth $354,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC lifted its stake in shares of Tompkins Financial by 100.0% in the 3rd quarter. nVerses Capital LLC now owns 600 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 300 shares during the period. GAMMA Investing LLC raised its position in shares of Tompkins Financial by 89.0% in the third quarter. GAMMA Investing LLC now owns 877 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 413 shares during the period. CWM LLC boosted its stake in shares of Tompkins Financial by 253.2% during the 2nd quarter. CWM LLC now owns 890 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 638 shares in the last quarter. Eastern Bank acquired a new stake in shares of Tompkins Financial during the 3rd quarter valued at about $67,000. Finally, EntryPoint Capital LLC increased its stake in shares of Tompkins Financial by 88.3% in the 1st quarter. EntryPoint Capital LLC now owns 1,474 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 691 shares in the last quarter. 69.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Tompkins Financial Stock Performance

TMP opened at $74.16 on Tuesday. The stock has a market cap of $1.07 billion, a P/E ratio of 16.30 and a beta of 0.67. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.75. Tompkins Financial Co. has a twelve month low of $43.09 and a twelve month high of $78.28.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company earned ($2.35) earnings per share.

Tompkins Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.62 per share. The ex-dividend date was Friday, November 8th. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.34%. Tompkins Financial’s dividend payout ratio is currently 53.56%.

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.