Franklin Resources Inc. Invests $586,000 in Tompkins Financial Co. (NYSEAMERICAN:TMP)

Franklin Resources Inc. acquired a new stake in shares of Tompkins Financial Co. (NYSEAMERICAN:TMP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 8,642 shares of the financial services provider's stock, valued at approximately $586,000. Franklin Resources Inc. owned 0.06% of Tompkins Financial at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TMP. Wilmington Savings Fund Society FSB bought a new stake in shares of Tompkins Financial in the 4th quarter worth $27,000. Versant Capital Management Inc grew its holdings in Tompkins Financial by 238.8% during the fourth quarter. Versant Capital Management Inc now owns 603 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 425 shares during the period. GAMMA Investing LLC increased its position in Tompkins Financial by 17.9% in the fourth quarter. GAMMA Investing LLC now owns 1,034 shares of the financial services provider's stock worth $70,000 after buying an additional 157 shares in the last quarter. FMR LLC raised its stake in shares of Tompkins Financial by 14.3% in the third quarter. FMR LLC now owns 1,731 shares of the financial services provider's stock worth $100,000 after buying an additional 216 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Tompkins Financial during the 4th quarter valued at about $163,000. Hedge funds and other institutional investors own 69.11% of the company's stock.

Tompkins Financial Stock Down 0.2 %

NYSEAMERICAN:TMP opened at $57.23 on Thursday. Tompkins Financial Co. has a 1 year low of $43.32 and a 1 year high of $79.01. The company has a market capitalization of $823.54 million, a PE ratio of 11.56 and a beta of 0.73. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.96 and a quick ratio of 0.92.

Tompkins Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were given a dividend of $0.62 per share. The ex-dividend date was Friday, February 14th. This represents a $2.48 dividend on an annualized basis and a yield of 4.33%. Tompkins Financial's payout ratio is 50.10%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler assumed coverage on shares of Tompkins Financial in a research report on Friday, December 20th. They set a "neutral" rating and a $70.00 price objective on the stock.

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.

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