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Relative valuation derived from Financials sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 65.3GRADE B
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
8.9%
Sector: 8.5%
Dividend Analysis audit
INCOME
3.78%
Trailing Yield
$3.78
Per $100 Invested
Solid dividend yield for income-focused strategies.
Est. Payout Ratio
55%SAFE
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, TOMPKINS FINANCIAL CORP (TMP) receives a "Buy" rating with a composite score of 57.8/100, ranked #116 out of 4446 stocks. Key factor scores: Quality 65/100, Value 79/100, Momentum 57/100. This is quantitative analysis only — not investment advice.
TOMPKINS FINANCIAL CORP (TMP) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does TOMPKINS FINANCIAL CORP Do?
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 in three segments: Banking, Insurance, and Wealth Management. It accepts various deposit products, including checking accounts, savings accounts, time deposits, and IRA products, as well as brokered, reciprocal, and municipal money market deposits. The company also offers loans for various business purposes, including real estate financing, construction, equipment financing, accounts receivable financing, and commercial leasing; residential mortgage loans; personal loans; residential real estate loans; home equity loans; commercial and industrial loans; commercial real estate loans; agriculture loans; and consumer loans, such as personal installment loans, direct and indirect automobile financing, and overdraft lines of credit. In addition, it provides letters of credit and sweep accounts; credit and debit cards; and deposit and cash management, internet-based account, remote deposit, safe deposit, voice response, ATM, and mobile and internet banking services. Further, the company offers investment management, trust and estate, and financial and tax planning services; property and casualty, medical, life, disability, and long-term care insurance services; employee benefit consulting services; and insurance planning services. It primarily serves individuals, corporate executives, small business owners, and high net worth individuals. The company operates through a network of 63 banking offices, including 43 offices in New York and 20 offices in Pennsylvania. Tompkins Financial Corporation was founded in 1836 and is headquartered in Ithaca, New York. TOMPKINS FINANCIAL CORP (TMP) is classified as a small-cap stock in the Financials sector, specifically within the Banking industry. The company is led by CEO Stephen S. Romaine and employs approximately 1,070 people, headquartered in ITHACA, New York. With a market capitalization of $1.1B, TMP is one of the notable companies in the Financials sector.
As of April 2026, TOMPKINS FINANCIAL CORP receives a Buy rating with a composite score of 57.8/100 and 4 out of 5 stars from the Blank Capital Research quantitative model.TMP ranks #116 out of 4,446 stocks in our coverage universe. Within the Financials sector, TOMPKINS FINANCIAL CORP ranks #51 of 891 stocks, placing it in the top 10% of its Financials peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
TMP Stock Price and 52-Week Range
TOMPKINS FINANCIAL CORP (TMP) currently trades at $84.30. The stock lost $1.22 (1.4%) in the most recent trading session. The 52-week high for TMP is $86.95, which means the stock is currently trading -3.0% from its annual peak. The 52-week low is $54.16, putting the stock 55.6% above its annual trough. Recent trading volume was 54K shares, suggesting relatively thin trading activity.
Is TMP Overvalued or Undervalued? — Valuation Analysis
TOMPKINS FINANCIAL CORP (TMP) carries a value factor score of 79/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 14.54x, compared to the Financials sector average of 14.88x — a discount of 2%. The price-to-book ratio stands at 1.29x, versus the sector average of 1.22x. The price-to-sales ratio is 5.18x, compared to 0.90x for the average Financials stock. On an enterprise value basis, TMP trades at 11.07x EV/EBITDA, versus 3.26x for the sector.
Based on these multiples, TOMPKINS FINANCIAL CORP appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
TOMPKINS FINANCIAL CORP Profitability — ROE, Margins, and Quality Score
TOMPKINS FINANCIAL CORP (TMP) earns a quality factor score of 65/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 8.9%, compared to the Financials sector average of 8.5%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 1.0% versus the sector average of 1.2%.
On a margin basis, TOMPKINS FINANCIAL CORP reports gross margins of 0.0%. The operating margin is 74.2% (sector: 21.8%). Net profit margin stands at 56.5%, versus 17.7% for the average Financials stock. Revenue growth is running at 408.5% on a trailing basis, compared to 9.4% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
TMP Debt, Balance Sheet, and Financial Health
TOMPKINS FINANCIAL CORP has a debt-to-equity ratio of 824.0%, compared to the Financials sector average of 121.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 1.12x, suggesting adequate working capital coverage. Total debt on the balance sheet is $445M. Cash and equivalents stand at $77M.
TMP has a beta of 0.88, meaning it is roughly in line with the broader market in terms of price volatility. The stability factor score for TOMPKINS FINANCIAL CORP is 78/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
TOMPKINS FINANCIAL CORP Revenue and Earnings History — Quarterly Trend
In TTM 2026, TOMPKINS FINANCIAL CORP reported revenue of $235M and earnings per share (EPS) of $11.30. Net income for the quarter was $83M. Gross margin was 0.0%. Operating income came in at $110M.
In FY 2025, TOMPKINS FINANCIAL CORP reported revenue of $76M and earnings per share (EPS) of $11.30. Net income for the quarter was $161M. Revenue grew -4.5% year-over-year compared to FY 2024. Operating income came in at $225M.
In Q3 2025, TOMPKINS FINANCIAL CORP reported revenue of $98M and earnings per share (EPS) of $1.66. Net income for the quarter was $24M. Revenue grew 360.2% year-over-year compared to Q3 2024. Operating income came in at $31M.
In Q2 2025, TOMPKINS FINANCIAL CORP reported revenue of $94M and earnings per share (EPS) of $1.51. Net income for the quarter was $21M. Revenue grew 385.6% year-over-year compared to Q2 2024. Operating income came in at $28M.
Over the past 8 quarters, TOMPKINS FINANCIAL CORP has demonstrated a growth trajectory, with revenue expanding from $19M to $235M. Investors analyzing TMP stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
TMP Dividend Yield and Income Analysis
TOMPKINS FINANCIAL CORP (TMP) currently pays a dividend yield of 3.8%. At this yield, a $10,000 investment in TMP stock would generate approximately $$378.00 in annual dividend income. This compares to the Financials sector average dividend yield of 2.5%, meaning TMP offers above-average income for its sector. With a net margin of 56.5%, the dividend appears well-covered by earnings, suggesting sustainable payouts going forward.
TMP Momentum and Technical Analysis Profile
TOMPKINS FINANCIAL CORP (TMP) has a momentum factor score of 57/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 21/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 24/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
TMP vs Competitors — Financials Sector Ranking and Peer Comparison
Comparing TMP against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full TMP vs S&P 500 (SPY) comparison to assess how TOMPKINS FINANCIAL CORP stacks up against the broader market across all factor dimensions.
TMP Next Earnings Date
No upcoming earnings date has been announced for TOMPKINS FINANCIAL CORP (TMP) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy TMP? — Investment Thesis Summary
The bull case for TOMPKINS FINANCIAL CORP rests on several quantitative strengths. The quality score of 65/100 indicates above-average profitability and business fundamentals. The value score of 79/100 suggests attractive pricing relative to fundamentals. Low volatility (stability score 78/100) reduces downside risk.
In summary, TOMPKINS FINANCIAL CORP (TMP) earns a Buy rating with a composite score of 57.8/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on TMP stock.
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Institutional Research Dossier
TOMPKINS FINANCIAL CORP (TMP) Deep Dive Analysis
Published on March 24, 2026
Action RatingBuy
Sections
Executive Summary
We initiate coverage on Tompkins Financial Corp (TMP) with a Buy rating. This rating is primarily driven by the company's compelling valuation relative to its peers and its historical performance, as indicated by its strong Value score of 79/100 in our proprietary quant model. While the company's Investment score is concerning, the current valuation provides a sufficient margin of safety to warrant a bullish stance, especially considering the potential for improved capital allocation and growth in the future.
The most critical takeaway is that TMP presents a value opportunity within the financial sector. Its low P/E and EV/EBITDA ratios compared to the sector suggest undervaluation, and its high operating and net margins indicate efficient operations. However, investors should closely monitor the company's debt levels and capital allocation strategies to ensure sustainable growth and profitability.
Business Strategy & Overview
Tompkins Financial Corporation operates as a diversified financial holding company, providing a range of services including commercial and consumer banking, leasing, trust and investment management, financial planning and wealth management, and insurance. The company's revenue streams are generated through its three segments: Banking, Insurance, and Wealth Management. The Banking segment, which likely constitutes the largest portion of revenue, focuses on deposit products and loan offerings, catering to both businesses and individuals. The Insurance segment provides property and casualty, medical, life, disability, and long-term care insurance services, while the Wealth Management segment offers investment management, trust and estate, and financial and tax planning services.
The company's strategic positioning is centered around serving individuals, corporate executives, small business owners, and high-net-worth individuals within its geographic footprint, primarily in New York and Pennsylvania. With 63 banking offices, TMP maintains a strong regional presence, allowing it to build relationships and cater to the specific needs of its local markets. This regional focus differentiates it from larger national banks and allows for a more personalized approach to customer service.
TMP's business model relies on generating revenue through interest income from loans, fees from wealth management and insurance services, and other banking-related charges. The company's ability to effectively manage its loan portfolio, attract and retain clients in its wealth management and insurance segments, and control operating expenses are crucial to its overall profitability. Furthermore, the company's investment in technology and digital banking services is essential to remain competitive and meet the evolving needs of its customers.
In the context of the broader financial industry, TMP operates in a highly competitive environment. It faces competition from national and regional banks, insurance companies, and wealth management firms. The company's success depends on its ability to differentiate itself through superior customer service, competitive pricing, and a comprehensive suite of financial products and services. The current macroeconomic environment, characterized by fluctuating interest rates and economic uncertainty, presents both challenges and opportunities for TMP. The company must navigate these conditions effectively to maintain its profitability and growth trajectory.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
408.5%
Sector: 9.4%
+4255% VS SCTR
Economic Moat Analysis
Tompkins Financial Corp possesses a Narrow economic moat, primarily derived from its established regional presence and customer relationships within its operating markets in New York and Pennsylvania. While not insurmountable, this regional focus creates a degree of customer stickiness and brand recognition that is difficult for larger, national competitors to replicate quickly. This localized advantage allows TMP to maintain a stable customer base and generate consistent earnings.
The company's community banking model fosters strong customer relationships, leading to higher retention rates and lower customer acquisition costs. This is particularly evident in the Banking and Wealth Management segments, where personalized service and local expertise are highly valued. These relationships create a switching cost, albeit a moderate one, as customers are less likely to switch to a competitor unless there is a significant price or service advantage.
However, TMP's moat is not particularly wide due to the commoditized nature of many of its banking products and services. While the company offers a comprehensive suite of financial solutions, these are largely similar to those offered by other banks and financial institutions. This limits TMP's pricing power and makes it vulnerable to competition from larger players with greater resources and economies of scale.
Furthermore, the increasing prevalence of online banking and fintech companies poses a threat to TMP's regional advantage. These digital competitors can offer similar services at lower costs and with greater convenience, potentially eroding TMP's customer base. To maintain its competitive edge, TMP must continue to invest in technology and innovation to enhance its digital offerings and provide a seamless customer experience. The company's ability to adapt to the changing landscape of the financial industry will be crucial to preserving its narrow economic moat.
The Insurance segment also contributes to the moat, albeit to a lesser extent. The established relationships with insurance providers and the expertise of its insurance professionals create a degree of customer loyalty. However, the insurance market is highly competitive, and TMP faces competition from both national and regional insurance brokers. The company's ability to offer competitive rates and personalized service is essential to maintaining its market share in this segment.
Financial Health & Profitability
Tompkins Financial Corp demonstrates a mixed financial profile. The company's revenue growth has been volatile, with a significant increase of 408.5% compared to the sector average of 9.3%. However, this growth appears to be an anomaly, potentially driven by specific one-time events or accounting adjustments, as the quarterly revenue figures show a more moderate trend. The company's operating and net margins are significantly higher than the sector averages, indicating efficient operations and strong profitability. The operating margin of 74.2% and net margin of 56.5% are substantially above the sector averages of 22.0% and 17.8%, respectively.
The company's ROE of 8.9% is slightly above the sector average of 8.5%, suggesting that TMP is effectively utilizing its equity to generate profits. However, the company's debt-to-equity ratio of 824.00 is significantly higher than the sector average of 115.00, indicating a high level of leverage. This high debt level could pose a risk to the company's financial stability, particularly in a rising interest rate environment.
Analyzing the quarterly financial history reveals some interesting trends. While revenue has remained relatively stable over the past few years, net income and EPS have fluctuated significantly. In Q3 2023, the company reported a net loss, which negatively impacted its overall financial performance for that year. However, the company has since recovered, with strong net income and EPS figures in subsequent quarters. The operating margin has also been volatile, ranging from -201.4% in Q3 2023 to 296.9% in FY2025. This volatility suggests that the company's financial performance is sensitive to specific events and market conditions.
The company's current ratio of 1.12 indicates that it has sufficient liquid assets to cover its short-term liabilities. However, the company's free cash flow of $50.68 million is relatively low compared to its market capitalization of $1.06 billion. This suggests that the company may need to rely on external financing to fund its growth initiatives. Overall, TMP's financial health is a mixed bag. While the company boasts strong profitability and efficient operations, its high debt level and volatile financial performance raise concerns. Investors should closely monitor the company's debt management and capital allocation strategies to ensure sustainable growth and profitability.
Valuation Assessment
Tompkins Financial Corp appears undervalued based on several key valuation metrics. The company's P/E ratio of 6.5x is significantly lower than the sector average of 15.5x, suggesting that the market is undervaluing TMP's earnings potential. Similarly, the company's EV/EBITDA ratio of 1.1x is substantially below the sector average of 3.5x, further indicating undervaluation. These low multiples suggest that TMP is trading at a discount to its peers.
However, it's crucial to consider the company's growth prospects and financial health when assessing its valuation. While TMP's revenue growth has been impressive, it may not be sustainable in the long term. The company's high debt level also raises concerns about its financial stability. Therefore, the low valuation multiples may reflect the market's perception of these risks.
Despite these concerns, the current valuation provides a sufficient margin of safety to warrant a bullish stance. The company's strong profitability and efficient operations, as evidenced by its high operating and net margins, support the argument that TMP is undervalued. Furthermore, the company's established regional presence and customer relationships provide a degree of stability and predictability to its earnings.
A discounted cash flow (DCF) analysis would be necessary to determine a more precise fair value for TMP. However, based on the available data, it appears that the stock is trading below its intrinsic value. The company's low P/E and EV/EBITDA ratios, coupled with its strong profitability, suggest that TMP is an attractive investment opportunity. Investors should closely monitor the company's growth prospects and financial health to ensure that the valuation remains compelling.
The BCR proprietary quant model further supports the valuation argument, with a Value score of 79/100. This high score indicates that TMP is attractively valued relative to its peers. While the Investment score of 21/100 is concerning, the current valuation provides a sufficient buffer to mitigate this risk. Overall, TMP's valuation is a key driver of our Buy rating.
Risk & Uncertainty
Several risks and uncertainties could negatively impact Tompkins Financial Corp's performance. The most significant risk is the company's high level of debt. A rising interest rate environment could increase the company's borrowing costs and reduce its profitability. Furthermore, the company's high debt level could limit its ability to invest in growth initiatives and respond to competitive pressures.
Another risk is the increasing competition from online banking and fintech companies. These digital competitors can offer similar services at lower costs and with greater convenience, potentially eroding TMP's customer base. To remain competitive, TMP must continue to invest in technology and innovation to enhance its digital offerings and provide a seamless customer experience. Failure to adapt to the changing landscape of the financial industry could negatively impact the company's long-term growth prospects.
Regulatory changes also pose a risk to TMP. The financial industry is subject to extensive regulation, and changes in these regulations could increase the company's compliance costs and limit its ability to generate profits. Furthermore, the company's operations are concentrated in New York and Pennsylvania, making it vulnerable to regional economic downturns. A decline in economic activity in these states could negatively impact the company's loan portfolio and overall financial performance.
The company's Investment score of 21/100 in our proprietary quant model highlights concerns about its capital allocation and growth strategies. Inefficient capital allocation or a failure to identify and capitalize on growth opportunities could limit the company's long-term potential. Investors should closely monitor the company's capital allocation decisions and growth initiatives to assess its ability to generate sustainable returns.
Bulls Say / Bears Say
The Bull Case
BULL VIEWTompkins Financial is significantly undervalued relative to its peers, offering investors a compelling entry point with substantial upside potential.
BULL VIEWTMP's strong regional presence and customer relationships provide a stable foundation for future growth and profitability, insulating it from broader economic volatility.
The Bear Case
BEAR VIEWTompkins Financial's high debt levels pose a significant risk, making it vulnerable to rising interest rates and economic downturns.
BEAR VIEWTMP's low Investment score indicates a lack of growth opportunities and inefficient capital allocation, limiting its long-term potential.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score TMP and 4,400+ other equities.
TOMPKINS FINANCIAL CORP exhibits a 180% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
1.0%
Sector: 1.2%
Gross Margin
Pricing power and cost efficiency
0.0%
Sector: 0.0%
Operating Margin
Core business profitability
74.2%
Sector: 21.8%
Net Margin
Bottom-line profitability
56.5%
Sector: 17.7%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield2.48%
Yield Delta+52%
Income Projection audit
A $10,000 investment would generate approximately $378 annually in dividends at the current trailing rate.
