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

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

Hedge Funds Weigh In On Tompkins Financial

A number of large investors have recently bought and sold shares of TMP. GAMMA Investing LLC grew its position in shares of Tompkins Financial by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 1,034 shares of the financial services provider’s stock worth $70,000 after buying an additional 157 shares during the last quarter. FMR LLC lifted its position 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 purchasing an additional 216 shares during the period. nVerses Capital LLC boosted its stake in shares of Tompkins Financial by 100.0% during the 3rd 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 in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Tompkins Financial by 3.0% during the third quarter. Chicago Partners Investment Group LLC now owns 11,016 shares of the financial services provider’s stock valued at $683,000 after buying an additional 317 shares during the period. Finally, Versant Capital Management Inc boosted its position in Tompkins Financial by 238.8% during the 4th quarter. Versant Capital Management Inc now owns 603 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 425 shares in the last quarter. 69.11% of the stock is owned by hedge funds and other institutional investors.

Tompkins Financial Price Performance

Tompkins Financial stock traded up $1.29 during trading on Wednesday, hitting $67.81. The stock had a trading volume of 4,924 shares, compared to its average volume of 44,139. Tompkins Financial has a 1 year low of $43.09 and a 1 year high of $79.01. The company has a market cap of $975.79 million, a price-to-earnings ratio of 14.65 and a beta of 0.72. 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 released its quarterly earnings results on Friday, October 25th. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.09. Tompkins Financial had a net margin of 15.59% and a return on equity of 9.68%. The firm had revenue of $112.51 million for the quarter. During the same period in the previous year, the company posted ($2.35) EPS.

Tompkins Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a dividend of $0.62 per share. The ex-dividend date was Friday, November 8th. This is a boost from Tompkins Financial’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 3.66%. Tompkins Financial’s dividend payout ratio is currently 53.56%.

Wall Street Analyst Weigh In

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

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.