Bourne Lent Asset Management Inc. Reduces Position in Tompkins Financial Co. (NYSEAMERICAN:TMP)

Bourne Lent Asset Management Inc. trimmed its holdings in Tompkins Financial Co. (NYSEAMERICAN:TMP) by 9.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,834 shares of the financial services provider’s stock after selling 500 shares during the period. Bourne Lent Asset Management Inc.’s holdings in Tompkins Financial were worth $279,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TMP. CWM LLC raised its stake in Tompkins Financial by 253.2% during the second quarter. CWM LLC now owns 890 shares of the financial services provider’s stock valued at $44,000 after buying an additional 638 shares in the last quarter. GAMMA Investing LLC lifted its stake in Tompkins Financial by 89.0% during the third quarter. GAMMA Investing LLC now owns 877 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 413 shares during the last quarter. EntryPoint Capital LLC lifted its stake in Tompkins Financial by 88.3% during the first quarter. EntryPoint Capital LLC now owns 1,474 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 691 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Tompkins Financial by 107.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,801 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 932 shares during the period. Finally, LVW Advisors LLC bought a new stake in Tompkins Financial during the third quarter valued at $236,000. 69.11% of the stock is currently owned by hedge funds and other institutional investors.

Tompkins Financial Price Performance

TMP stock opened at $63.89 on Wednesday. The company has a market cap of $920.02 million, a P/E ratio of 65.19 and a beta of 0.69. Tompkins Financial Co. has a 12 month low of $43.09 and a 12 month high of $65.54. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.14.

Tompkins Financial (NYSEAMERICAN:TMP) last released its quarterly earnings results on Friday, July 26th. The financial services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $107.02 million during the quarter. Tompkins Financial had a return on equity of 2.16% and a net margin of 4.11%.

Tompkins Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were issued a dividend of $0.61 per share. The ex-dividend date was Friday, August 9th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 3.82%. Tompkins Financial’s dividend payout ratio is 248.98%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TMP. StockNews.com upgraded Tompkins Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. Keefe, Bruyette & Woods upgraded shares of Tompkins Financial from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $59.00 to $68.00 in a research report on Wednesday, October 2nd.

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.