Morgan Stanley decreased its position in Tompkins Financial Co. (AMEX:TMP) by 42.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,761 shares of the financial services provider’s stock after selling 23,927 shares during the period. Morgan Stanley’s holdings in Tompkins Financial were worth $2,639,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Tompkins Financial by 7.2% in the first quarter. Vanguard Group Inc. now owns 1,399,990 shares of the financial services provider’s stock valued at $112,769,000 after buying an additional 93,919 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in Tompkins Financial during the first quarter valued at approximately $556,000. Principal Financial Group Inc. raised its position in Tompkins Financial by 6.9% in the first quarter. Principal Financial Group Inc. now owns 99,355 shares of the financial services provider’s stock valued at $8,003,000 after buying an additional 6,417 shares in the last quarter. Bank of New York Mellon Corp raised its position in Tompkins Financial by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 199,660 shares of the financial services provider’s stock valued at $16,084,000 after buying an additional 6,355 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Tompkins Financial by 22.0% in the first quarter. First Trust Advisors LP now owns 20,795 shares of the financial services provider’s stock valued at $1,675,000 after buying an additional 3,753 shares in the last quarter.
Tompkins Financial Co. (AMEX TMP) traded down 0.0787% during trading on Thursday, reaching $74.2915. 3,410 shares of the company’s stock traded hands. The company’s 50 day moving average is $77.97 and its 200-day moving average is $81.39. Tompkins Financial Co. has a 52-week low of $71.41 and a 52-week high of $96.70. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 18.0319 and a beta of 0.77.
Tompkins Financial (AMEX:TMP) last posted its quarterly earnings results on Friday, July 21st. The financial services provider reported $1.11 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.06. Tompkins Financial had a return on equity of 11.75% and a net margin of 25.03%. The company had revenue of $67.75 million for the quarter. On average, analysts anticipate that Tompkins Financial Co. will post $4.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were issued a $0.45 dividend. The ex-dividend date was Friday, July 28th. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.42%. Tompkins Financial’s payout ratio is currently 46.56%.
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TMP has been the topic of several recent analyst reports. BidaskClub raised shares of Tompkins Financial from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Keefe, Bruyette & Woods raised shares of Tompkins Financial from an “underperform” rating to a “market perform” rating and raised their target price for the company from $80.00 to $81.00 in a report on Monday, July 24th.
About Tompkins Financial
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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