Tuesday, September 30, 2014

Recent Buy - Tompkins Financial (TMP)

It that time again where I make my monthly stock purchase. These monthly purchases started out as monthly purchases but are now getting close to every 3 weeks as my dividends help boost me over my $1000 minimum purchase total faster and faster.

This time I have decided to purchase a small bank called Tompkins Financial. Most of you may have never heard of this little bank but it is a dividend champion with 27 years of dividend raises. The company has been around for over 170 years and operates over 65 banks in the north eastern United States.

I was torn between buying more General Mills (GIS) and starting a position in Tompkins Financial (TMP) since both have been on a bit of a downtrend lately. Ultimately I went with TMP simply for more diversity.

A curious thing happened with my order at my brokerage. My purchase price was $44.50 which was actually higher than the daily range of the stock price over the entire trading day. The trading range went from $44.12 - $44.44 which I checked on a few sites. I have no idea how my brokerage managed to execute my order so poorly and even if it did go through shouldn't the daily range been at least $44.50 on the high range ? It wasn't a premarket order or anything like that, just a limit order which I wish I set a tad lower. Not a big deal but I've never seen that before.

Edit: I contacted my broker to find out more about the trade and they cleared things up for me. Turns out that unless the transaction is at least 100 shares it will not be reflected in the daily trading range. Makes me wonder what the daily trading ranges really are in some stocks.

TMP Stock Chart

TMP Basic Statistics

TMP Dividend Growth