Tompkins Financial Co. Announces Quarterly Dividend of $0.62 (NYSEAMERICAN:TMP)

Tompkins Financial Co. (NYSEAMERICAN:TMP - Get Free Report) declared a quarterly dividend on Friday, January 31st,RTT News reports. Stockholders of record on Friday, February 14th will be paid a dividend of 0.62 per share by the financial services provider on Friday, February 21st. This represents a $2.48 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, February 14th.

Tompkins Financial has raised its dividend by an average of 3.7% per year over the last three years and has raised its dividend every year for the last 14 years. Tompkins Financial has a dividend payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Tompkins Financial to earn $5.84 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 42.5%.

Tompkins Financial Stock Up 1.5 %

TMP traded up $1.06 during trading hours on Tuesday, hitting $70.47. The company's stock had a trading volume of 44,139 shares, compared to its average volume of 48,506. Tompkins Financial has a fifty-two week low of $43.09 and a fifty-two week high of $79.01. The stock has a market cap of $1.01 billion, a P/E ratio of 14.24 and a beta of 0.73. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.92 and a quick ratio of 0.92.

Analysts Set New Price Targets

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

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.