Lazard Asset Management LLC Makes New Investment in Tompkins Financial Corporation $TMP

Lazard Asset Management LLC purchased a new stake in Tompkins Financial Corporation (NYSEAMERICAN:TMP) in the first quarter, Holdings Channel reports. The institutional investor purchased 20,434 shares of the financial services provider’s stock, valued at approximately $1,611,000.

Several other hedge funds also recently modified their holdings of the company. IFP Advisors Inc grew its position in Tompkins Financial by 59,550.0% during the 4th quarter. IFP Advisors Inc now owns 1,193 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 1,191 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Tompkins Financial in the fourth quarter valued at about $118,000. Quantbot Technologies LP acquired a new stake in shares of Tompkins Financial during the second quarter valued at about $151,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Tompkins Financial during the fourth quarter valued at about $171,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Tompkins Financial during the second quarter worth about $204,000. Institutional investors and hedge funds own 69.11% of the company’s stock.

Tompkins Financial Stock Up 1.1%

Shares of NYSEAMERICAN:TMP opened at $100.92 on Tuesday. The firm has a market cap of $1.45 billion, a P/E ratio of 8.27 and a beta of 0.74. Tompkins Financial Corporation has a 12-month low of $61.21 and a 12-month high of $102.02. The business has a fifty day simple moving average of $92.25 and a 200 day simple moving average of $84.71. 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 released its quarterly earnings results on Friday, July 24th. The financial services provider reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.22. The firm had revenue of $87.12 million for the quarter, compared to analyst estimates of $86.93 million. Tompkins Financial had a return on equity of 11.52% and a net margin of 30.13%. Analysts predict that Tompkins Financial Corporation will post 7.55 earnings per share for the current year.

Tompkins Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, August 7th will be issued a $0.70 dividend. The ex-dividend date is Friday, August 7th. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.67. This represents a $2.80 annualized dividend and a yield of 2.8%. Tompkins Financial’s dividend payout ratio (DPR) is currently 54.14%.

Insider Buying and Selling

In other news, Director Ita M. Rahilly bought 1,164 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $85.90 per share, with a total value of $99,987.60. Following the transaction, the director owned 11,849 shares of the company’s stock, valued at $1,017,829.10. This trade represents a 10.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.52% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Tompkins Financial from $98.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, July 27th. Piper Sandler boosted their target price on shares of Tompkins Financial from $87.00 to $104.00 and gave the stock a “neutral” rating in a report on Monday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Tompkins Financial presently has an average rating of “Hold” and a consensus price target of $104.50.

About Tompkins Financial

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.