Tompkins Financial (NYSEAMERICAN:TMP) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of Tompkins Financial (NYSEAMERICAN:TMP - Free Report) in a report released on Friday morning, MarketBeat Ratings reports. The brokerage issued a neutral rating and a $70.00 target price on the financial services provider's stock.

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

Tompkins Financial Price Performance

NYSEAMERICAN:TMP traded up $1.52 during trading hours on Friday, hitting $69.38. 283,594 shares of the company traded hands, compared to its average volume of 60,437. Tompkins Financial has a one year low of $43.09 and a one year high of $79.01. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.75. The stock has a market cap of $998.38 million, a PE ratio of 14.98 and a beta of 0.72.

Tompkins Financial (NYSEAMERICAN:TMP - Get Free Report) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $1.30 earnings per share 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 quarter last year, the firm posted ($2.35) earnings per share.

Tompkins Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a $0.62 dividend. The ex-dividend date of this dividend was Friday, November 8th. This is a boost from Tompkins Financial's previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.57%. Tompkins Financial's dividend payout ratio is currently 53.56%.

Institutional Trading of Tompkins Financial

A number of large investors have recently modified their holdings of the business. Bank of Montreal Can purchased a new position in shares of Tompkins Financial in the 2nd quarter worth about $1,112,000. AQR Capital Management LLC purchased a new stake in Tompkins Financial in the second quarter worth approximately $468,000. Intech Investment Management LLC purchased a new position in shares of Tompkins Financial during the third quarter worth approximately $215,000. Atria Investments Inc lifted its holdings in shares of Tompkins Financial by 32.8% in the 3rd quarter. Atria Investments Inc now owns 6,943 shares of the financial services provider's stock worth $401,000 after acquiring an additional 1,713 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of 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 valued at $27,941,000 after purchasing an additional 34,752 shares during the last quarter. Institutional investors own 69.11% of the company's 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.