Charles Schwab Investment Management Inc. Sells 14,447 Shares of Tompkins Financial Co. (NYSEAMERICAN:TMP)

Charles Schwab Investment Management Inc. trimmed its position in Tompkins Financial Co. (NYSEAMERICAN:TMP - Free Report) by 8.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 148,426 shares of the financial services provider's stock after selling 14,447 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.03% of Tompkins Financial worth $8,578,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TMP. CWM LLC grew its position in Tompkins Financial by 253.2% in the second quarter. CWM LLC now owns 890 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 638 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Tompkins Financial during the 2nd quarter valued at approximately $282,000. Bank of New York Mellon Corp grew its holdings in shares of Tompkins Financial by 9.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 126,288 shares of the financial services provider's stock valued at $6,175,000 after purchasing an additional 11,140 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of Tompkins Financial by 32.9% during the second quarter. WINTON GROUP Ltd now owns 20,168 shares of the financial services provider's stock worth $986,000 after buying an additional 4,996 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Tompkins Financial by 6.5% during 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 last quarter. 69.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised shares of Tompkins Financial from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $59.00 to $68.00 in a report on Wednesday, October 2nd.

Tompkins Financial Stock Up 2.2 %

Shares of Tompkins Financial stock traded up $1.67 on Wednesday, hitting $77.74. 85,845 shares of the company's stock traded hands, compared to its average volume of 59,590. Tompkins Financial Co. has a one year low of $43.09 and a one year high of $79.01. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 16.46 and a beta of 0.72.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last issued its earnings results 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 for the quarter. Tompkins Financial had a net margin of 15.59% and a return on equity of 9.68%. During the same period in the prior year, the company earned ($2.35) earnings per share.

Tompkins Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.62 dividend. 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 3.19%. The ex-dividend date was Friday, November 8th. Tompkins Financial's dividend payout ratio (DPR) 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.