Piper Sandler Begins Coverage on Tompkins Financial (NYSEAMERICAN:TMP)

Piper Sandler assumed coverage on shares of Tompkins Financial (NYSEAMERICAN:TMP) in a research note published on Friday, Marketbeat.com reports. The brokerage issued a neutral rating and a $70.00 price target on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods upgraded Tompkins Financial from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $59.00 to $68.00 in a research report on Wednesday, October 2nd.

Tompkins Financial Trading Up 2.2 %

NYSEAMERICAN TMP opened at $69.38 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a market cap of $998.38 million, a PE ratio of 14.98 and a beta of 0.72. Tompkins Financial has a 52 week low of $43.09 and a 52 week high of $79.01.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its earnings results on Friday, October 25th. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.09. The company had revenue of $112.51 million for the quarter. Tompkins Financial had a net margin of 15.59% and a return on equity of 9.68%. During the same quarter in the previous year, the firm earned ($2.35) earnings per share.

Tompkins Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.62 per share. This is a positive change from Tompkins Financial’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 3.57%. The ex-dividend date was Friday, November 8th. Tompkins Financial’s dividend payout ratio (DPR) is currently 53.56%.

Hedge Funds Weigh In On Tompkins Financial

Several institutional investors have recently bought and sold shares of the company. nVerses Capital LLC raised its stake in shares of Tompkins Financial by 100.0% in the third quarter. nVerses Capital LLC now owns 600 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 300 shares in the last quarter. GAMMA Investing LLC increased its holdings in Tompkins Financial by 89.0% during the 3rd quarter. GAMMA Investing LLC now owns 877 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 413 shares during the period. Eastern Bank acquired a new stake in Tompkins Financial in the 3rd quarter valued at about $67,000. FMR LLC boosted its stake in shares of Tompkins Financial by 14.3% in the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock valued at $100,000 after buying an additional 216 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Tompkins Financial during the third quarter worth approximately $215,000. 69.11% of the stock is owned by institutional investors and hedge funds.

About Tompkins Financial

Tompkins Financial Corporation, a financial holding company, provides commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance services. The company operates through three segments: Banking, Insurance, and Wealth Management. It accepts various deposit products, including checking and savings accounts, time deposits, and IRA products, as well as brokered, reciprocal, and municipal money market deposits.