Patricia A. Johnson, a director at Tompkins Financial Corp (NYSE:TMP), recently acquired shares in the company. According to a recent SEC filing, Johnson purchased 263 shares of common stock on January 7, 2025, at a price of $67.074 per share. The stock has shown strong momentum, gaining nearly 48% over the past six months, according to InvestingPro data. The transaction was valued at approximately $17,640. This acquisition was part of the company's Second Amended and Restated Retainer Plan, allowing directors to receive shares in lieu of cash retainer fees. Following this transaction, Johnson holds a total of 4,507.913 shares in Tompkins Financial Corp. The company maintains a strong dividend profile with a 3.7% yield and has raised its dividend for 35 consecutive years. With earnings scheduled for January 24, 2025, InvestingPro subscribers can access 8 additional investment insights about TMP's financial health and valuation.
In other recent news, Tompkins Financial Corporation has announced an increase in its regular quarterly cash dividend to $0.62 per share, marking a 1.6% rise over the third quarter's dividend, and a 3.3% increase compared to the fourth quarter of the previous year. This adjustment represents a steady growth in shareholder returns and indicates the company's commitment to providing value to its investors. Additionally, Tompkins Financial has been upgraded from Market Perform to Outperform by analyst firm Keefe, Bruyette & Woods (KBW). This upgrade was accompanied by an increase in KBW's price target for Tompkins Financial, from $59.00 to $68.00. KBW attributes this upgrade to Tompkins Financial's steady performance throughout economic cycles, its above-peer returns, best-quartile credit performance, and lower-than-peer deposit costs. With the normalization of the rate environment, KBW anticipates a rebound in Tompkins Financial's net interest margin, leading to enhanced returns. These are among the recent developments concerning Tompkins Financial Corporation.
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