Bank of America Corp DE Has $1.10 Million Position in Copa Holdings, S.A. (NYSE:CPA)

Bank of America Corp DE lowered its holdings in Copa Holdings, S.A. (NYSE:CPA - Free Report) by 81.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,499 shares of the transportation company's stock after selling 53,661 shares during the period. Bank of America Corp DE's holdings in Copa were worth $1,098,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CPA. EverSource Wealth Advisors LLC raised its holdings in shares of Copa by 147.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 991 shares of the transportation company's stock worth $87,000 after acquiring an additional 591 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Copa during the fourth quarter worth $225,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Copa by 24.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,685 shares of the transportation company's stock worth $236,000 after acquiring an additional 521 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Copa by 90.0% during the fourth quarter. SG Americas Securities LLC now owns 2,719 shares of the transportation company's stock worth $239,000 after acquiring an additional 1,288 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. purchased a new stake in shares of Copa during the fourth quarter worth $241,000. Hedge funds and other institutional investors own 70.09% of the company's stock.

Analyst Upgrades and Downgrades

CPA has been the subject of several recent research reports. Cowen reiterated a "buy" rating on shares of Copa in a report on Wednesday, May 14th. Wall Street Zen downgraded shares of Copa from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Copa presently has an average rating of "Moderate Buy" and a consensus target price of $153.00.

Copa Stock Up 3.1%

Copa stock traded up $3.21 during mid-day trading on Friday, hitting $107.95. 440,883 shares of the company's stock were exchanged, compared to its average volume of 318,988. The company has a current ratio of 1.10, a quick ratio of 0.99 and a debt-to-equity ratio of 0.60. The stock has a market cap of $4.44 billion, a P/E ratio of 7.41, a P/E/G ratio of 0.87 and a beta of 1.33. Copa Holdings, S.A. has a 1-year low of $80.01 and a 1-year high of $110.73. The stock has a 50 day moving average of $96.17 and a two-hundred day moving average of $93.31.

Copa (NYSE:CPA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The transportation company reported $4.28 EPS for the quarter, topping the consensus estimate of $3.77 by $0.51. The firm had revenue of $899.18 million for the quarter, compared to the consensus estimate of $888.82 million. Copa had a net margin of 17.67% and a return on equity of 26.70%. The business's quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $4.19 earnings per share. As a group, analysts anticipate that Copa Holdings, S.A. will post 15.48 EPS for the current fiscal year.

Copa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be given a $1.61 dividend. This represents a $6.44 annualized dividend and a dividend yield of 5.97%. The ex-dividend date is Friday, May 30th. Copa's dividend payout ratio is currently 43.96%.

About Copa

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 375 daily scheduled flights to 82 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2023, it operated a fleet of 106 aircraft comprising 76 Boeing 737-Next Generation aircraft, 29 Boeing 737 MAX 9 aircraft, and one Boeing 737-800 Boeing Converted Freighter.