Legal & General Group Plc Buys New Shares in Tompkins Financial Corporation $TMP

Legal & General Group Plc purchased a new position in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,703 shares of the financial services provider’s stock, valued at approximately $2,618,000.

A number of other large investors also recently bought and sold shares of TMP. BlackRock Inc. acquired a new position in shares of Tompkins Financial in the 2nd quarter valued at about $193,740,000. Bank of New York Mellon Corp acquired a new position in shares of Tompkins Financial during the 2nd quarter valued at $11,459,000. Hillsdale Investment Management Inc. acquired a new stake in Tompkins Financial in the 1st quarter valued at $7,340,000. Rhino Investment Partners Inc lifted its stake in shares of Tompkins Financial by 88.5% during the first quarter. Rhino Investment Partners Inc now owns 166,941 shares of the financial services provider’s stock worth $13,162,000 after purchasing an additional 78,391 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Tompkins Financial in the fourth quarter worth about $4,351,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Tompkins Financial from $98.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, July 27th. Piper Sandler lifted their price target on shares of Tompkins Financial from $87.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $104.50.

Tompkins Financial Trading Up 0.9%

Shares of NYSEAMERICAN:TMP opened at $99.57 on Friday. The company has a market cap of $1.43 billion, a PE ratio of 8.15 and a beta of 0.73. The company’s 50-day moving average price is $96.91 and its 200 day moving average price is $87.86. Tompkins Financial Corporation has a fifty-two week low of $61.88 and a fifty-two week high of $102.58. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.57.

Tompkins Financial (NYSEAMERICAN:TMP) last announced its quarterly earnings results on Friday, July 24th. The financial services provider reported $2.04 EPS for the quarter, beating the consensus estimate of $1.82 by $0.22. The company had revenue of $87.12 million for the quarter, compared to analyst estimates of $86.93 million. Tompkins Financial had a net margin of 30.13% and a return on equity of 11.52%. Sell-side analysts anticipate that Tompkins Financial Corporation will post 7.75 earnings per share for the current year.

Tompkins Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, August 7th were given a dividend of $0.70 per share. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.67. The ex-dividend date was Friday, August 7th. This represents a $2.80 dividend on an annualized basis and a yield of 2.8%. Tompkins Financial’s payout ratio is presently 56.57%.

Tompkins Financial Profile

Tompkins Financial (NYSEAMERICAN:TMP) is a bank holding company headquartered in Ithaca, New York, that provides a diversified range of financial services. Through its principal banking subsidiary, Tompkins Trust Company, the firm offers commercial and consumer banking products including checking and savings accounts, mortgage loans, and credit facilities. Beyond traditional banking, Tompkins Financial delivers asset management, trust and estate planning, retirement services and investment advisory solutions.

In addition to its core banking operations, Tompkins Financial operates Tompkins Insurance Agencies, which offers property and casualty, life and health insurance coverages to individuals and businesses.