Tompkins Financial (NYSEAMERICAN:TMP) Hits New 12-Month High on Better-Than-Expected Earnings

Shares of Tompkins Financial Co. (NYSEAMERICAN:TMP) reached a new 52-week high during mid-day trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $66.08 and last traded at $65.94, with a volume of 32812 shares changing hands. The stock had previously closed at $60.75.

The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.09. Tompkins Financial had a net margin of 15.59% and a return on equity of 9.85%. The firm had revenue of $112.51 million during the quarter. During the same period last year, the company earned ($2.35) EPS.

Tompkins Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 3.77%. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend is Friday, November 8th. Tompkins Financial’s dividend payout ratio is currently 52.70%.

Analysts Set New Price Targets

Several brokerages have weighed in on TMP. StockNews.com raised shares of Tompkins Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Keefe, Bruyette & Woods raised shares of Tompkins Financial from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $59.00 to $68.00 in a research note on Wednesday, October 2nd.

Hedge Funds Weigh In On Tompkins Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of TMP. John G Ullman & Associates Inc. raised its holdings in Tompkins Financial by 224.0% in the first quarter. John G Ullman & Associates Inc. now owns 101,865 shares of the financial services provider’s stock worth $5,123,000 after purchasing an additional 70,422 shares during the period. Quadrature Capital Ltd acquired a new stake in Tompkins Financial in the first quarter worth $600,000. Bank of Montreal Can acquired a new stake in Tompkins Financial in the second quarter worth $1,112,000. AQR Capital Management LLC acquired a new stake in Tompkins Financial in the second quarter worth $468,000. Finally, Dimensional Fund Advisors LP raised its holdings in Tompkins Financial by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 571,421 shares of the financial services provider’s stock worth $27,941,000 after purchasing an additional 34,752 shares during the period. 69.11% of the stock is owned by institutional investors.

Tompkins Financial Stock Up 8.4 %

The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $948.24 million, a price-to-earnings ratio of 14.07 and a beta of 0.69.

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.