Tompkins Financial (NYSEAMERICAN:TMP) Reaches New 1-Year High on Strong Earnings

Tompkins Financial Co. (NYSEAMERICAN:TMP - Get Free Report) shares reached a new 52-week high during trading on Monday following a better than expected earnings announcement. The stock traded as high as $66.08 and last traded at $65.94, with a volume of 32812 shares trading hands. The stock had previously closed at $60.75.

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

Tompkins Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.72%. This is a boost from Tompkins Financial's previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 8th. Tompkins Financial's payout ratio is presently 52.70%.

Analysts Set New Price Targets

A number of research analysts have weighed in on TMP shares. StockNews.com raised Tompkins Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 3rd. Keefe, Bruyette & Woods raised Tompkins Financial from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $59.00 to $68.00 in a report on Wednesday, October 2nd.

Institutional Trading of Tompkins Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Tompkins Financial by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 571,421 shares of the financial services provider's stock valued at $27,941,000 after acquiring an additional 34,752 shares in the last quarter. ProShare Advisors LLC raised its holdings in shares of Tompkins Financial by 13.5% during the first quarter. ProShare Advisors LLC now owns 155,834 shares of the financial services provider's stock valued at $7,837,000 after acquiring an additional 18,579 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Tompkins Financial by 9.7% during the second 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 acquiring an additional 11,140 shares in the last quarter. John G Ullman & Associates Inc. raised its holdings in shares of Tompkins Financial by 224.0% during the first quarter. John G Ullman & Associates Inc. now owns 101,865 shares of the financial services provider's stock valued at $5,123,000 after acquiring an additional 70,422 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Tompkins Financial by 1.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,803 shares of the financial services provider's stock valued at $1,801,000 after acquiring an additional 575 shares in the last quarter. Institutional investors own 69.11% of the company's stock.

Tompkins Financial Stock Performance

The firm has a market cap of $960.77 million, a P/E ratio of 14.22 and a beta of 0.69. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.94 and a quick ratio of 0.94.

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.