First Trust Advisors LP Buys New Position in Tompkins Financial Corporation $TMP

First Trust Advisors LP purchased a new position in shares of Tompkins Financial Corporation (NYSEAMERICAN:TMP) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,210 shares of the financial services provider’s stock, valued at approximately $490,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of Tompkins Financial by 59,550.0% during the fourth quarter. IFP Advisors Inc now owns 1,193 shares of the financial services provider’s stock valued at $87,000 after purchasing an additional 1,191 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Tompkins Financial during the fourth quarter worth $118,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Tompkins Financial in the fourth quarter valued at $171,000. Quantbot Technologies LP purchased a new position in shares of Tompkins Financial in the second quarter valued at $151,000. Finally, Cross Staff Investments Inc acquired a new stake in Tompkins Financial during the 4th quarter valued at $206,000. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ita M. Rahilly acquired 1,164 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average cost of $85.90 per share, with a total value of $99,987.60. Following the completion of the acquisition, the director directly owned 11,849 shares in the company, valued at $1,017,829.10. This represents a 10.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.52% of the stock is currently owned by corporate insiders.

Tompkins Financial Stock Up 1.6%

Shares of NYSEAMERICAN:TMP opened at $99.10 on Wednesday. The firm has a market cap of $1.43 billion, a PE ratio of 8.12 and a beta of 0.74. The company has a fifty day simple moving average of $93.84 and a 200 day simple moving average of $85.70. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.57. Tompkins Financial Corporation has a 12-month low of $61.88 and a 12-month high of $102.02.

Tompkins Financial (NYSEAMERICAN:TMP) last announced its quarterly earnings data on Friday, July 24th. The financial services provider reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.22. The company had revenue of $87.12 million during 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%. On average, equities research analysts anticipate that Tompkins Financial Corporation will post 7.75 EPS for the current fiscal year.

Tompkins Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.8%. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, August 7th. Tompkins Financial’s payout ratio is 56.57%.

Wall Street Analyst Weigh In

TMP has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Tompkins Financial from $98.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, July 27th. Piper Sandler raised their target price on Tompkins Financial from $87.00 to $104.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.50.

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.