Bank of America Corp DE Buys 56,764 Shares of Copa Holdings, S.A. $CPA

Key Points

• Bank of America increased its Copa Holdings stake by 45.5% in the first quarter, acquiring 56,764 additional shares for a total position valued at approximately $20.6 million. Institutional investors now own 70.09% of the airline company.
• Copa shares opened at $129.47, down 3.2%, after the company reported quarterly EPS of $1.67, below the $1.88 consensus estimate, while revenue rose 25.7% year over year to $1.06 billion.
• Copa declared a quarterly dividend of $1.71 per share, representing a 5.3% annualized yield. Analysts maintain a consensus “Buy” rating with an average price target of $173.20, despite one recent downgrade to “Hold.”

Bank of America Corp DE raised its stake in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 45.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,594 shares of the transportation company's stock after acquiring an additional 56,764 shares during the period. Bank of America Corp DE owned approximately 0.44% of Copa worth $20,631,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Hilton Head Capital Partners LLC boosted its position in shares of Copa by 44.0% during the 1st quarter. Hilton Head Capital Partners LLC now owns 324 shares of the transportation company's stock worth $37,000 after acquiring an additional 99 shares in the last quarter. MGO One Seven LLC lifted its holdings in shares of Copa by 3.1% in the fourth quarter. MGO One Seven LLC now owns 3,743 shares of the transportation company's stock worth $451,000 after acquiring an additional 112 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Copa by 5.8% in the 3rd quarter. Private Advisor Group LLC now owns 2,158 shares of the transportation company's stock valued at $256,000 after purchasing an additional 119 shares in the last quarter. US Bancorp DE boosted its stake in shares of Copa by 90.2% in the 3rd quarter. US Bancorp DE now owns 253 shares of the transportation company's stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in shares of Copa by 7.4% during the 4th quarter. Merit Financial Group LLC now owns 1,879 shares of the transportation company's stock valued at $227,000 after purchasing an additional 129 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors.

Copa Stock Down 3.2%

Shares of NYSE:CPA opened at $129.47 on Wednesday. The firm has a market cap of $5.33 billion, a P/E ratio of 8.51, a P/E/G ratio of 1.18 and a beta of 1.01. The company has a quick ratio of 0.97, a current ratio of 1.06 and a debt-to-equity ratio of 0.72. Copa Holdings, S.A. has a 12-month low of $107.44 and a 12-month high of $160.46. The business has a fifty day simple moving average of $144.42 and a 200 day simple moving average of $134.04.

Copa (NYSE:CPA - Get Free Report) last announced its earnings results on Saturday, August 8th. The transportation company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.21). The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.08 billion. Copa had a return on equity of 22.40% and a net margin of 15.71%.The firm's quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.61 earnings per share. Analysts predict that Copa Holdings, S.A. will post 16.28 earnings per share for the current year.

Copa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date of this dividend is Monday, August 31st. Copa's dividend payout ratio is currently 44.97%.

Analyst Ratings Changes

A number of research firms have weighed in on CPA. Jefferies Financial Group assumed coverage on shares of Copa in a research note on Thursday, June 18th. They set a "buy" rating and a $185.00 target price on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Copa in a report on Tuesday, August 11th. The Goldman Sachs Group boosted their price objective on Copa from $138.00 to $156.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. UBS Group lowered their target price on Copa from $195.00 to $185.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Finally, Wall Street Zen downgraded Copa from a "buy" rating to a "hold" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Copa presently has an average rating of "Buy" and an average target price of $173.20.

Copa Company Profile

Copa Holdings, SA NYSE: CPA is a Panama‐based aviation holding company that provides passenger and cargo air transportation across the Americas and the Caribbean. Through its principal subsidiary, Copa Airlines, the company operates a modern fleet of Boeing 737 aircraft, offering scheduled flights that connect passengers through its Tocumen International Airport hub in Panama City. The company also offers dedicated cargo services under the Copa Cargo brand, leveraging belly hold capacity on its passenger flights to transport freight throughout its network.

The roots of Copa Holdings trace back to 1947, when Compañía Panameña de Aviación began operations as the flag carrier of Panama.

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