Ita Rahilly, a director at Tompkins Financial Corporation (NYSEAMERICAN:TMP), has increased her investment in the company by acquiring 1,463 shares on November 21, 2023. The shares were purchased at an average price of $68.36 each, leading to a total expenditure of $100,010.68. This transaction raised her total ownership to 10,511 shares, valued at approximately $718,531.96. The acquisition represents a 16.17% increase in her stock holdings.
The purchase was officially reported in a filing with the Securities and Exchange Commission, which is accessible through the SEC’s website. Following this announcement, shares of Tompkins Financial saw a modest increase in trading, with the price reaching $68.61 during midday trading on the following Monday. Trading volume for the day was 24,610 shares, compared to an average daily volume of 49,014 shares.
Tompkins Financial’s Market Performance
Tompkins Financial currently holds a market capitalization of $990.04 million and has a price-to-earnings ratio of 11.65. The company’s stock has fluctuated between a 52-week low of $54.16 and a 52-week high of $79.01. Financial analysts note a 50-day simple moving average of $66.24 and a 200-day simple moving average of $65.36. The firm’s financial health is indicated by a quick ratio of 0.95, a current ratio of 0.92, and a debt-to-equity ratio of 0.56.
In its most recent earnings report on October 24, 2023, Tompkins Financial posted earnings per share of $1.65, falling short of analysts’ expectations of $1.70 by $0.05. Revenue for the quarter was reported at $87.44 million, slightly exceeding the forecast of $87.00 million. The company achieved a return on equity of 11.24% and a net margin of 18.24%. Analysts project that Tompkins Financial will report an earnings per share of 5.46 for the current fiscal year.
Institutional Investment Trends
Recent activity among institutional investors suggests a growing confidence in Tompkins Financial. Chicago Partners Investment Group LLC has increased its stake by 1.9% in the third quarter, now holding 11,438 shares valued at $751,000 after acquiring an additional 216 shares. Similarly, Savant Capital LLC raised its holdings by 4.2%, bringing its total to 5,913 shares worth $392,000 following the purchase of 238 shares.
EverSource Wealth Advisors LLC made a significant move, increasing its position by 95.4%, now owning 551 shares valued at $36,000 after acquiring 269 shares. Rhumbline Advisers also raised its stake by 0.8%, for a total of 38,226 shares worth $2,531,000 after purchasing an additional 308 shares. Hedge funds and institutional investors collectively hold 69.11% of Tompkins Financial’s stock, indicating robust institutional interest in the company.
Tompkins Financial Corporation offers a variety of services including commercial and consumer banking, leasing, trust and investment management, financial planning, and insurance services. The company operates across three primary segments: Banking, Insurance, and Wealth Management, catering to a diverse range of customer needs.
