Tompkins Financial Co. (NYSEAMERICAN:TMP) to Issue Quarterly Dividend of $0.62

Tompkins Financial Co. (NYSEAMERICAN:TMP) announced a quarterly dividend on Friday, January 31st,RTT News reports. Investors of record on Friday, February 14th will be given a dividend of 0.62 per share by the financial services provider on Friday, February 21st. This represents a $2.48 dividend on an annualized basis and a yield of 3.54%.

Tompkins Financial has raised its dividend payment by an average of 3.7% annually over the last three years and has raised its dividend every year for the last 14 years. Tompkins Financial has a payout ratio of 41.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tompkins Financial to earn $5.29 per share next year, which means the company should continue to be able to cover its $2.48 annual dividend with an expected future payout ratio of 46.9%.

Tompkins Financial Stock Up 3.9 %

TMP opened at $70.07 on Friday. Tompkins Financial has a 1 year low of $43.09 and a 1 year high of $79.01. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.01 billion, a price-to-earnings ratio of 14.54 and a beta of 0.74.

Analyst Ratings Changes

Separately, Piper Sandler assumed coverage on shares of Tompkins Financial in a research report on Friday, December 20th. They issued a “neutral” rating and a $70.00 price objective for the company.

About Tompkins Financial

Tompkins Financial Corporation, a financial holding company, provides commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance services. The company operates through three segments: Banking, Insurance, and Wealth Management. It accepts various deposit products, including checking and savings accounts, time deposits, and IRA products, as well as brokered, reciprocal, and municipal money market deposits.