Tompkins Financial (TMP) Declares $0.60 Dividend

Tompkins Financial said on July 21, 2023 that its board of directors declared a regular quarterly dividend of $0.60 per share ($2.40 annualized). Previously, the company paid $0.60 per share.

Shareholders of record as of August 1, 2023 will receive the payment on August 12, 2023.

At the current share price of $61.07 / share, the stock's dividend yield is 3.93%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.90%, the lowest has been 2.20%, and the highest has been 4.69%. The standard deviation of yields is 0.48 (n=234).

The current dividend yield is 2.15 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.50. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.15%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 360 funds or institutions reporting positions in Tompkins Financial. This is a decrease of 1 owner(s) or 0.28% in the last quarter. Average portfolio weight of all funds dedicated to TMP is 0.09%, a decrease of 32.48%. Total shares owned by institutions increased in the last three months by 0.62% to 9,968K shares. The put/call ratio of TMP is 0.47, indicating a bullish outlook.

Analyst Price Forecast Suggests 0.21% Upside

As of July 6, 2023, the average one-year price target for Tompkins Financial is 61.20. The forecasts range from a low of 60.60 to a high of $63.00. The average price target represents an increase of 0.21% from its latest reported closing price of 61.07.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Tompkins Financial is 324MM, an increase of 11.90%. The projected annual non-GAAP EPS is 6.12.

What are Other Shareholders Doing?

Tompkins Financial holds 1,163K shares representing 8.12% ownership of the company. In it's prior filing, the firm reported owning 1,174K shares, representing a decrease of 1.00%. The firm decreased its portfolio allocation in TMP by 33.32% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 909K shares representing 6.35% ownership of the company. In it's prior filing, the firm reported owning 938K shares, representing a decrease of 3.17%. The firm decreased its portfolio allocation in TMP by 19.62% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 345K shares representing 2.41% ownership of the company. In it's prior filing, the firm reported owning 339K shares, representing an increase of 1.64%. The firm decreased its portfolio allocation in TMP by 19.88% over the last quarter.

IWM - iShares Russell 2000 ETF holds 307K shares representing 2.15% ownership of the company. In it's prior filing, the firm reported owning 325K shares, representing a decrease of 5.70%. The firm decreased its portfolio allocation in TMP by 15.64% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 303K shares representing 2.12% ownership of the company. In it's prior filing, the firm reported owning 299K shares, representing an increase of 1.57%. The firm decreased its portfolio allocation in TMP by 16.78% over the last quarter.

Tompkins Financial Background Information
(This description is provided by the company.)

Tompkins Financial Corporation is a financial services company serving the Central, Western, and Hudson Valley regions of New York and the Southeastern region of Pennsylvania. Headquartered in Ithaca, NY, Tompkins Financial is parent to Tompkins Trust Company, Tompkins Bank of Castile, Tompkins Mahopac Bank, Tompkins VIST Bank, Tompkins Insurance Agencies, Inc., and offers wealth management services through Tompkins Financial Advisors.

Additional reading:

• Average Balance Sheet Average earning assets $ 7,409,714 $ 7,410,553 $ 7,568,656 $ 7,639,123 $ 7,621,588 $ 7,607,078 Average assets 7,635,800 7,633,793 7,721,335 7,853,847 7,830,645 7,828,520 Average interest-bearing liabilities 4,883,026 4,834,712 4
• Friday, July 21, 2023
• Friday, July 21, 2023
• # # # Editor’s note: Attached is a courtesy photo of Matthew Tomazin. # # #
• Tompkins Financial Corporation 8-K

This story originally appeared on Fintel.