Tompkins Financial (NYSEAMERICAN:TMP) Sees Large Volume Increase – What’s Next?

Tompkins Financial Corporation (NYSEAMERICAN:TMP) saw unusually-strong trading volume on Tuesday. 86,830 shares changed hands during trading, an increase of 6% from the previous session’s volume of 81,796 shares. The stock last traded at $99.80 and had previously closed at $97.17.

Wall Street Analysts Forecast Growth

TMP has been the topic of several recent analyst reports. Piper Sandler increased their price objective on shares of Tompkins Financial from $87.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Keefe, Bruyette & Woods raised their price target on shares of Tompkins Financial from $98.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, July 27th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $104.50.

Tompkins Financial Trading Down 0.5%

The stock’s fifty day moving average price is $97.96 and its 200 day moving average price is $92.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $1.42 billion, a P/E ratio of 8.10 and a beta of 0.76.

Tompkins Financial (NYSEAMERICAN:TMP) last issued its earnings results on Friday, July 24th. The financial services provider reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.22. The business had revenue of $87.12 million during the quarter, compared to analysts’ expectations of $86.93 million. Tompkins Financial had a return on equity of 11.52% and a net margin of 30.13%. Research analysts forecast that Tompkins Financial Corporation will post 7.75 earnings per share for the current year.

Hedge Funds Weigh In On Tompkins Financial

Several hedge funds have recently made changes to their positions in the company. Nykredit A S purchased a new position in shares of Tompkins Financial during the 2nd quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. purchased a new position in Tompkins Financial in the 2nd quarter valued at about $27,000. Bard Associates Inc. acquired a new position in Tompkins Financial in the 2nd quarter valued at $28,000. Trust Co. of Vermont purchased a new position in shares of Tompkins Financial in the second quarter worth about $42,000. Finally, Integrated Wealth Concepts LLC purchased a new position in Tompkins Financial in the 2nd quarter worth approximately $51,000. 69.11% of the stock is owned by institutional investors and hedge funds.

Tompkins Financial Company Profile

Tompkins Financial Corporation is a financial services holding company headquartered in Ithaca, New York. Through its subsidiaries, the company provides banking, insurance and wealth-management services to individuals, families, businesses and municipal organizations.

Its banking operations are conducted primarily through Tompkins Community Bank, which offers deposit accounts, residential and commercial lending, mortgages, cash-management services, online banking and other financial products.