Angela B. Lee, a director at Tompkins Financial Corp (NYSE:TMP), has recently acquired 286 shares of common stock, according to a filing with the Securities and Exchange Commission. The company, which has maintained dividend payments for 51 consecutive years and currently offers a 3.7% yield, receives a FAIR overall financial health rating from InvestingPro. The shares were purchased at a price of $67.074 each, amounting to a total transaction value of $19,183. This acquisition was part of a plan allowing directors to receive shares in lieu of cash retainers. Following this transaction, Lee now directly owns 286 shares of the company's stock. The timing appears strategic, as TMP's stock has shown strong momentum with a nearly 48% gain over the past six months. InvestingPro subscribers can access 8 additional key insights about Tompkins Financial's performance and valuation metrics.
In other recent news, Tompkins Financial Corporation has shared noteworthy updates. The company announced an increase in its regular quarterly cash dividend to $0.62 per share, marking a modest rise from previous payouts. This represents a 1.6% increase over the third quarter's dividend and a 3.3% increase compared to the fourth quarter of the previous year. This decision by Tompkins Financial's Board of Directors reflects a commitment to providing value to its investors.
In addition to the dividend hike, the company has been upgraded from Market Perform to Outperform by Keefe, Bruyette & Woods (KBW). This upgrade was accompanied by an increase in the firm's price target for Tompkins Financial. KBW anticipates a rebound in Tompkins Financial's net interest margin (NIM), leading to enhanced returns. These recent developments highlight the ongoing financial activities of Tompkins Financial Corporation.
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