Piper Sandler Assumes Tompkins Financial (TMP) at Neutral

Piper Sandler analyst Manuel Navas assumes coverage on Tompkins Financial (NYSE: TMP) with a Neutral rating and a price target of $74.00.

The analyst comments: "TMP appears set to rapidly improve its profitability post a November Insurance sale and securities restructuring. The Insurance sale was for $223M in cash with a net PT gain of $183M expected that more than offsets a securities restructuring loss of $79.5M on a pickup of ~300bp on yields for $565M in securities. Post both transactions, PT earnings should rise with plenty of excess capital. Further profitability and earnings growth depends on careful management of deposits, expenses, and capital, which we are watching closely. We largely expect ’26E to be a strong year with +17% EPS growth that we fear does not sustain enough into ’27E growth of +8%. We note recent share outperformance (+2% PTD vs. KRX) also captures the Insurance sale announcement, but we view shares at 1.5x TBV or 1.2x TBV adjusted for the sale as fairly valued with little further upside currently. "

For an analyst ratings summary and ratings history on Tompkins Financial click here. For more ratings news on Tompkins Financial click here.

Shares of Tompkins Financial closed at $70.01 yesterday.

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