Tompkins Financial Co. (NYSEAMERICAN:TMP) Sees Significant Drop in Short Interest

Tompkins Financial Co. (NYSEAMERICAN:TMP) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 191,400 shares, a decrease of 19.0% from the June 15th total of 236,200 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 56,400 shares, the days-to-cover ratio is currently 3.4 days.

Insider Transactions at Tompkins Financial

In related news, Director Janet M. Coletti bought 1,000 shares of the stock in a transaction dated Thursday, May 16th. The stock was purchased at an average cost of $47.91 per share, with a total value of $47,910.00. Following the completion of the purchase, the director now owns 2,000 shares of the company’s stock, valued at $95,820. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Tompkins Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cornell University acquired a new stake in shares of Tompkins Financial in the fourth quarter worth $1,898,000. John G Ullman & Associates Inc. grew its position in Tompkins Financial by 224.0% during the 1st quarter. John G Ullman & Associates Inc. now owns 101,865 shares of the financial services provider’s stock worth $5,123,000 after purchasing an additional 70,422 shares during the period. LVW Advisors LLC purchased a new position in shares of Tompkins Financial during the 4th quarter valued at about $246,000. SG Americas Securities LLC lifted its holdings in shares of Tompkins Financial by 31.3% in the 4th quarter. SG Americas Securities LLC now owns 3,718 shares of the financial services provider’s stock valued at $224,000 after buying an additional 887 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in shares of Tompkins Financial by 736.8% in the fourth quarter. Quadrant Capital Group LLC now owns 2,686 shares of the financial services provider’s stock worth $162,000 after buying an additional 2,365 shares during the last quarter. Hedge funds and other institutional investors own 69.11% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on TMP shares. StockNews.com upgraded Tompkins Financial from a “sell” rating to a “hold” rating in a research note on Tuesday, June 18th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $50.00 target price (down from $55.00) on shares of Tompkins Financial in a research note on Friday, May 3rd.

Tompkins Financial Price Performance

NYSEAMERICAN TMP traded up $0.90 during trading on Friday, hitting $52.10. The company’s stock had a trading volume of 67,475 shares, compared to its average volume of 71,324. Tompkins Financial has a fifty-two week low of $43.09 and a fifty-two week high of $65.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.90 and a current ratio of 0.90. The company has a market cap of $750.24 million, a PE ratio of 110.85 and a beta of 0.70.

Tompkins Financial (NYSEAMERICAN:TMP) last released its earnings results on Friday, April 26th. The financial services provider reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.04). Tompkins Financial had a return on equity of 1.08% and a net margin of 2.16%. The company had revenue of $72.81 million during the quarter, compared to analyst estimates of $74.91 million. As a group, equities analysts expect that Tompkins Financial will post 4.21 EPS for the current fiscal year.

Tompkins Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 10th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 4.68%. This is an increase from Tompkins Financial’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, May 9th. Tompkins Financial’s dividend payout ratio is presently 519.15%.

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.