Keefe, Bruyette & Woods Upgrades Tompkins Financial Co. (TMP) to Market Perform

Keefe, Bruyette & Woods upgraded shares of Tompkins Financial Co. (AMEX:TMP) from an underperform rating to a market perform rating in a research note issued to investors on Monday, July 24th, Marketbeat Ratings reports. The brokerage currently has $81.00 price target on the financial services provider’s stock, up from their prior price target of $80.00.

Separately, BidaskClub raised Tompkins Financial from a strong sell rating to a sell rating in a report on Saturday, June 10th.

Shares of Tompkins Financial (TMP) traded up 0.20% during trading on Monday, hitting $74.18. The company’s stock had a trading volume of 32,478 shares. The company has a market capitalization of $1.13 billion, a P/E ratio of 18.00 and a beta of 0.77. Tompkins Financial has a 1-year low of $70.84 and a 1-year high of $96.70. The firm’s 50 day moving average is $78.36 and its 200-day moving average is $81.75.

Tompkins Financial (AMEX:TMP) last released its earnings results on Friday, July 21st. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.06. The firm had revenue of $67.75 million for the quarter. Tompkins Financial had a return on equity of 11.75% and a net margin of 25.03%. Analysts forecast that Tompkins Financial will post $4.42 EPS for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were issued a $0.45 dividend. The ex-dividend date was Friday, July 28th. This represents a $1.80 dividend on an annualized basis and a yield of 2.43%. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.40. Tompkins Financial’s dividend payout ratio (DPR) is 46.56%.

A number of hedge funds have recently added to or reduced their stakes in TMP. Teachers Advisors LLC raised its stake in Tompkins Financial by 13.8% in the fourth quarter. Teachers Advisors LLC now owns 27,093 shares of the financial services provider’s stock worth $2,561,000 after buying an additional 3,286 shares during the period. Tompkins Financial Corp raised its stake in Tompkins Financial by 4.8% in the first quarter. Tompkins Financial Corp now owns 533,004 shares of the financial services provider’s stock worth $34,112,000 after buying an additional 24,188 shares during the period. Louisiana State Employees Retirement System raised its stake in Tompkins Financial by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 5,000 shares of the financial services provider’s stock worth $403,000 after buying an additional 100 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Tompkins Financial by 2.3% in the first quarter. State of Alaska Department of Revenue now owns 1,350 shares of the financial services provider’s stock worth $108,000 after buying an additional 30 shares in the last quarter. Finally, Cardinal Capital Management increased its stake in shares of Tompkins Financial by 2.7% in the first quarter. Cardinal Capital Management now owns 6,504 shares of the financial services provider’s stock worth $524,000 after buying an additional 170 shares in the last quarter.

Tompkins Financial Company Profile

Tompkins Financial Corporation (Tompkins) is a financial holding company. The Company is a community-based financial services company that offers an array of products and services, including commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, insurance, and brokerage services.

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