Tompkins Financial price target raised to $87 from $82 at Piper Sandler

Piper Sandler raised the firm’s price target on Tompkins Financial (TMP) to $87 from $82 and keeps a Neutral rating on the shares. The firm notes the company reported in line pre-provision net revenue to consensus as stronger net interest income was offset by higher operating expenses and lower Fees. Piper is raising its EPS on the expectation that loan growth rebounds post a seasonally weak Q1 and net interest margin continues on its expanding trajectory.