Tompkins Financial Co. (NYSEAMERICAN:TMP) Sees Large Decline in Short Interest

Tompkins Financial Co. (NYSEAMERICAN:TMP) saw a large drop in short interest in December. As of December 31st, there was short interest totalling 68,900 shares, a drop of 20.6% from the December 15th total of 86,800 shares. Based on an average daily trading volume, of 55,800 shares, the short-interest ratio is currently 1.2 days. Approximately 0.5% of the company’s stock are sold short.

Tompkins Financial Stock Performance

TMP stock traded up $0.31 during midday trading on Friday, hitting $66.95. The company’s stock had a trading volume of 50,937 shares, compared to its average volume of 47,467. The stock has a market capitalization of $963.41 million, a PE ratio of 14.46 and a beta of 0.74. Tompkins Financial has a 12 month low of $43.09 and a 12 month high of $79.01. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.75.

Tompkins Financial (NYSEAMERICAN:TMP) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.09. Tompkins Financial had a return on equity of 9.68% and a net margin of 15.59%. The firm had revenue of $112.51 million for the quarter. During the same period in the previous year, the company earned ($2.35) earnings per share. As a group, research analysts forecast that Tompkins Financial will post 4.81 earnings per share for the current fiscal year.

Tompkins Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a dividend of $0.62 per share. The ex-dividend date was Friday, November 8th. This represents a $2.48 annualized dividend and a yield of 3.70%. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.61. Tompkins Financial’s dividend payout ratio is currently 53.56%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised Tompkins Financial from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $59.00 to $68.00 in a research report on Wednesday, October 2nd. Piper Sandler initiated coverage on shares of Tompkins Financial in a report on Friday, December 20th. They issued a “neutral” rating and a $70.00 target price for the company.

Institutional Trading of Tompkins Financial

A number of large investors have recently made changes to their positions in TMP. nVerses Capital LLC lifted its position in Tompkins Financial by 100.0% during the third quarter. nVerses Capital LLC now owns 600 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 300 shares during the period. Versant Capital Management Inc grew its position in Tompkins Financial by 238.8% in the 4th quarter. Versant Capital Management Inc now owns 603 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 425 shares during the period. GAMMA Investing LLC raised its stake in Tompkins Financial by 89.0% during the 3rd quarter. GAMMA Investing LLC now owns 877 shares of the financial services provider’s stock valued at $51,000 after buying an additional 413 shares during the last quarter. Eastern Bank bought a new position in shares of Tompkins Financial during the 3rd quarter valued at $67,000. Finally, FMR LLC boosted its stake in shares of Tompkins Financial by 14.3% in the 3rd quarter. FMR LLC now owns 1,731 shares of the financial services provider’s stock worth $100,000 after buying an additional 216 shares during the last quarter. 69.11% of the stock is currently owned by institutional investors.

Tompkins Financial Company Profile

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 through three segments: Banking, Insurance, and Wealth Management. It accepts various deposit products, including checking and savings accounts, time deposits, and IRA products, as well as brokered, reciprocal, and municipal money market deposits.