Tompkins Financial's Q2 EPS rises on improved interest margin and loan growth
TMP•Dividend increase and market expectations
Tompkins Financial approved a 13% dividend increase for the third quarter of 2026.
The current average analyst rating on the shares is "buy," with one "strong buy" or "buy" recommendation, one "hold" and no "sell" or "strong sell" ratings.
Wall Street's median 12-month price target for Tompkins Financial Corp is $92.50, about 0.2% below its July 23 closing price of $92.65.
The stock recently traded at 12 times the next 12-month earnings, versus a P/E of 10 three months ago.
Q2 profit rises on higher net interest income
Tompkins Financial's diluted earnings per share rose 36% year over year in the second quarter, supported by higher net interest income and loan growth.
Net interest income for Q2 grew 23% from the prior year to $73.98 million, helped by an improved net interest margin and loan growth.
Q2 EPS came in at $2.04, beating the consensus estimate of $1.82 from two analysts.
Lower noninterest expense helps offset weaker noninterest income
Lower noninterest expense, mainly from the sale of the insurance subsidiary, contributed to improved profitability.
Noninterest income fell because of the insurance subsidiary sale, partly offset by higher wealth management and service fee income.
