Bank of America Corp DE Reduces Position in Star Bulk Carriers Corp. (NASDAQ:SBLK)

Bank of America Corp DE cut its holdings in shares of Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 14.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 201,590 shares of the shipping company's stock after selling 34,773 shares during the period. Bank of America Corp DE owned 0.24% of Star Bulk Carriers worth $3,014,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBLK. Barclays PLC increased its position in Star Bulk Carriers by 7,313.4% during the 3rd quarter. Barclays PLC now owns 455,254 shares of the shipping company's stock valued at $10,784,000 after purchasing an additional 449,113 shares during the period. Blue Trust Inc. boosted its stake in shares of Star Bulk Carriers by 51.3% during the 4th quarter. Blue Trust Inc. now owns 3,063 shares of the shipping company's stock valued at $46,000 after purchasing an additional 1,038 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of Star Bulk Carriers by 8.3% during the fourth quarter. DAVENPORT & Co LLC now owns 14,129 shares of the shipping company's stock valued at $211,000 after buying an additional 1,083 shares during the period. CFM Wealth Partners LLC increased its position in shares of Star Bulk Carriers by 10.3% during the fourth quarter. CFM Wealth Partners LLC now owns 106,119 shares of the shipping company's stock valued at $1,586,000 after buying an additional 9,895 shares during the period. Finally, Guidance Capital Inc. raised its stake in Star Bulk Carriers by 6.1% in the fourth quarter. Guidance Capital Inc. now owns 25,103 shares of the shipping company's stock worth $372,000 after buying an additional 1,434 shares in the last quarter. Institutional investors own 33.91% of the company's stock.

Star Bulk Carriers Stock Down 0.1%

Star Bulk Carriers stock traded down $0.02 during mid-day trading on Wednesday, reaching $16.18. The stock had a trading volume of 1,375,190 shares, compared to its average volume of 1,801,987. Star Bulk Carriers Corp. has a one year low of $12.06 and a one year high of $26.97. The company has a 50-day moving average price of $14.99 and a two-hundred day moving average price of $15.57. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 5.64 and a beta of 0.89. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.65 and a quick ratio of 1.50.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its earnings results on Wednesday, May 14th. The shipping company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.21. Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The business had revenue of $159.28 million during the quarter, compared to analysts' expectations of $162.57 million. During the same period in the previous year, the company earned $0.87 earnings per share. On average, analysts expect that Star Bulk Carriers Corp. will post 1.74 EPS for the current fiscal year.

Star Bulk Carriers Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Friday, June 6th. Star Bulk Carriers's payout ratio is currently 10.10%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group dropped their target price on shares of Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Star Bulk Carriers currently has a consensus rating of "Hold" and a consensus target price of $22.05.

About Star Bulk Carriers

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.