Tuesday, February 21, 2017
Recent Sell - Tompkins Financial (TMP)
This time around an old friend of mine in Tompkins Financial (TMP) was on the chopping block. Tompkins Financial Corporation is a small, diversified financial services company based in Ithaca, New York with banking branches across New York and Pennsylvania.
My decision to sell wasn't because of an accounting scandal or poor management. Quite the contrary and through no fault of their own TMP has simply become grossly overvalued.
With the funds from the sale I purchased 81 shares of Verizon (VZ) which offers a better yield and is a far better value at this time.