Tompkins Financial (NYSEAMERICAN:TMP) Releases Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Tompkins Financial (NYSEAMERICAN:TMP) released its quarterly earnings data on Friday. The financial services provider reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.22, FiscalAI reports. The business had revenue of $87.12 million for the quarter, compared to analysts’ expectations of $86.93 million. Tompkins Financial had a net margin of 28.93% and a return on equity of 11.27%.

Tompkins Financial Stock Up 6.5%

Shares of NYSEAMERICAN:TMP traded up $6.07 during midday trading on Friday, hitting $98.72. 67,509 shares of the stock were exchanged, compared to its average volume of 71,652. The business’s fifty day simple moving average is $90.07 and its two-hundred day simple moving average is $83.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 0.94. Tompkins Financial has a 52-week low of $61.21 and a 52-week high of $98.45. The company has a market capitalization of $1.42 billion, a PE ratio of 8.42 and a beta of 0.74.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler reissued a “neutral” rating and set a $87.00 target price (up from $82.00) on shares of Tompkins Financial in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $87.00.

Insiders Place Their Bets

In other news, Director Ita M. Rahilly bought 1,164 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $85.90 per share, for a total transaction of $99,987.60. Following the purchase, the director owned 11,849 shares of the company’s stock, valued at $1,017,829.10. This represents a 10.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.52% of the company’s stock.

Institutional Trading of Tompkins Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV raised its holdings in Tompkins Financial by 15.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,888 shares of the financial services provider’s stock valued at $500,000 after acquiring an additional 897 shares in the last quarter. Millennium Management LLC increased its position in shares of Tompkins Financial by 1.1% during the fourth quarter. Millennium Management LLC now owns 16,863 shares of the financial services provider’s stock valued at $1,223,000 after purchasing an additional 183 shares during the period. AQR Capital Management LLC increased its position in shares of Tompkins Financial by 62.3% during the fourth quarter. AQR Capital Management LLC now owns 68,928 shares of the financial services provider’s stock valued at $4,999,000 after purchasing an additional 26,457 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Tompkins Financial by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,973 shares of the financial services provider’s stock valued at $1,376,000 after purchasing an additional 513 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Tompkins Financial in the fourth quarter valued at $4,351,000. 69.11% of the stock is currently owned by institutional investors and hedge funds.

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.