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

Tompkins Financial Co. (NYSEAMERICAN:TMP - Get Free Report) was the target of 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. Approximately 0.5% of the company's stock are sold short. Based on an average daily volume of 55,800 shares, the days-to-cover ratio is currently 1.2 days.

Hedge Funds Weigh In On Tompkins Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can acquired a new position in Tompkins Financial in the second quarter valued at $1,112,000. Geode Capital Management LLC increased its stake in Tompkins Financial by 0.6% in the third quarter. Geode Capital Management LLC now owns 291,312 shares of the financial services provider's stock valued at $16,839,000 after purchasing an additional 1,766 shares during the last quarter. Jane Street Group LLC increased its stake in Tompkins Financial by 130.5% in the third quarter. Jane Street Group LLC now owns 25,100 shares of the financial services provider's stock valued at $1,451,000 after purchasing an additional 14,210 shares during the last quarter. Barclays PLC increased its stake in Tompkins Financial by 115.7% in the third quarter. Barclays PLC now owns 25,878 shares of the financial services provider's stock valued at $1,496,000 after purchasing an additional 13,878 shares during the last quarter. Finally, FMR LLC increased its stake in Tompkins Financial by 14.3% in the third quarter. FMR LLC now owns 1,731 shares of the financial services provider's stock valued at $100,000 after purchasing an additional 216 shares during the last quarter. Institutional investors and hedge funds own 69.11% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on TMP shares. Keefe, Bruyette & Woods upgraded shares of 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 note on Wednesday, October 2nd. Piper Sandler started coverage on shares of Tompkins Financial in a research note on Friday, December 20th. They set a "neutral" rating and a $70.00 price target on the stock.

Tompkins Financial Stock Up 1.5 %

TMP stock traded up $1.02 during trading on Wednesday, reaching $67.54. 41,564 shares of the company were exchanged, compared to its average volume of 48,352. The company has a market cap of $971.90 million, a P/E ratio of 14.59 and a beta of 0.72. Tompkins Financial has a 52-week low of $43.09 and a 52-week 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 - Get Free Report) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.09. The firm had revenue of $112.51 million for the quarter. Tompkins Financial had a net margin of 15.59% and a return on equity of 9.68%. During the same period in the prior year, the firm posted ($2.35) EPS.

Tompkins Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.48 dividend on an annualized basis and a yield of 3.67%. This is a boost from Tompkins Financial's previous quarterly dividend of $0.61. Tompkins Financial's payout ratio is presently 53.56%.

About Tompkins Financial

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.