Exchange Traded Concepts LLC lowered its holdings in Tompkins Financial Co. (NYSEAMERICAN:TMP – Free Report) by 3.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 8,138 shares of the financial services provider’s stock after selling 270 shares during the quarter. Exchange Traded Concepts LLC owned about 0.06% of Tompkins Financial worth $453,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of Tompkins Financial by 2.5% in the 3rd quarter. BlackRock Inc. now owns 2,080,018 shares of the financial services provider’s stock valued at $151,049,000 after acquiring an additional 51,632 shares during the period. Vanguard Group Inc. boosted its stake in shares of Tompkins Financial by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 1,436,006 shares of the financial services provider’s stock worth $112,397,000 after acquiring an additional 11,454 shares in the last quarter. State Street Corp boosted its position in shares of Tompkins Financial by 2.3% in the 1st quarter. State Street Corp now owns 1,326,832 shares of the financial services provider’s stock worth $87,850,000 after buying an additional 30,111 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Tompkins Financial by 3.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 480,562 shares of the financial services provider’s stock worth $31,818,000 after buying an additional 14,449 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Tompkins Financial by 4.2% in the 1st quarter. Geode Capital Management LLC now owns 254,611 shares of the financial services provider’s stock worth $16,858,000 after buying an additional 10,177 shares in the last quarter. Hedge funds and other institutional investors own 63.75% of the company’s stock.
Tompkins Financial Trading Down 2.1 %
TMP opened at $49.94 on Friday. The company’s fifty day moving average price is $69.42. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $717.14 million, a price-to-earnings ratio of 10.45 and a beta of 0.65. Tompkins Financial Co. has a twelve month low of $46.85 and a twelve month high of $85.00.
Tompkins Financial Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Saturday, August 12th. Stockholders of record on Tuesday, August 1st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.81%. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Monday, July 31st. Tompkins Financial’s payout ratio is 50.21%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently issued reports on TMP shares. Piper Sandler upped their target price on Tompkins Financial from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. Keefe, Bruyette & Woods cut their target price on Tompkins Financial from $56.00 to $55.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 25th. Finally, StockNews.com assumed coverage on shares of Tompkins Financial in a report on Thursday. They issued a “sell” rating on the stock.
View Our Latest Analysis on Tompkins Financial
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 in 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.
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