Tompkins Financial (NYSEAMERICAN:TMP) Coverage Initiated at Piper Sandler

Piper Sandler initiated coverage on shares of Tompkins Financial (NYSEAMERICAN:TMP) in a report issued on Friday, Marketbeat reports. The brokerage set a “neutral” rating and a $70.00 price target on the financial services provider’s stock. Piper Sandler’s target price would indicate a potential upside of 0.89% from the company’s previous close.

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

Tompkins Financial Stock Performance

Shares of NYSEAMERICAN:TMP opened at $69.38 on Friday. The firm has a market capitalization of $998.38 million, a P/E ratio of 14.98 and a beta of 0.72. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.92 and a quick ratio of 0.92. Tompkins Financial has a 12-month low of $43.09 and a 12-month high of $79.01.

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

Institutional Investors Weigh In On Tompkins Financial

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

Tompkins Financial Company Profile

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.