Tompkins Financial (NYSEAMERICAN:TMP) Downgraded by Zacks Investment Research to “Hold”

Tompkins Financial (NYSEAMERICAN:TMP) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Tompkins Financial Corporation is a financial services company with $5.5 billion in assets 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. “

TMP traded up $0.77 during midday trading on Wednesday, reaching $57.60. The company had a trading volume of 3,535 shares, compared to its average volume of 46,518. Tompkins Financial has a 12-month low of $53.32 and a 12-month high of $93.66.

Tompkins Financial (NYSEAMERICAN:TMP) last posted its quarterly earnings data on Friday, July 24th. The financial services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $0.57 by $0.90. The firm had revenue of $73.54 million during the quarter, compared to analysts’ expectations of $71.52 million.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Handelsbanken Fonder AB bought a new stake in Tompkins Financial during the second quarter valued at approximately $295,000. Stephens Inc. AR boosted its holdings in shares of Tompkins Financial by 51.0% in the 2nd quarter. Stephens Inc. AR now owns 29,546 shares of the financial services provider’s stock worth $1,914,000 after purchasing an additional 9,985 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Tompkins Financial by 5.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 85,588 shares of the financial services provider’s stock valued at $5,544,000 after purchasing an additional 4,619 shares during the last quarter. Rockbridge Investment Management LCC bought a new stake in Tompkins Financial in the 2nd quarter worth approximately $174,000. Finally, Tudor Investment Corp Et Al bought a new stake in shares of Tompkins Financial in the 2nd quarter worth approximately $351,000.

Tompkins Financial Company Profile

Tompkins Financial Corporation operates as a community-based financial services company that 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.

Featured Story: Example of operating income, EBIT and EBITDA

Get a free copy of the Zacks research report on Tompkins Financial (TMP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Tompkins Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tompkins Financial and related companies with MarketBeat.com's FREE daily email newsletter.