Star Bulk Carriers Corp. (NASDAQ:SBLK) Shares Acquired by NBC Securities Inc.

NBC Securities Inc. lifted its holdings in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 225,341.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 38,325 shares of the shipping company's stock after purchasing an additional 38,308 shares during the period. NBC Securities Inc.'s holdings in Star Bulk Carriers were worth $596,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Star Bulk Carriers during the fourth quarter worth $28,000. Parkside Financial Bank & Trust purchased a new position in shares of Star Bulk Carriers in the 4th quarter valued at $30,000. Capital Analysts LLC raised its position in shares of Star Bulk Carriers by 215.9% in the 4th quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock worth $34,000 after acquiring an additional 1,561 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Star Bulk Carriers by 177.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock worth $39,000 after purchasing an additional 1,676 shares during the last quarter. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Star Bulk Carriers during the fourth quarter valued at about $45,000. 33.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Star Bulk Carriers Stock Up 1.6%

Shares of SBLK stock traded up $0.26 during trading hours on Friday, reaching $16.69. 1,788,136 shares of the company's stock were exchanged, compared to its average volume of 1,800,704. Star Bulk Carriers Corp. has a fifty-two week low of $12.06 and a fifty-two week high of $26.04. The stock's 50 day moving average is $15.01 and its 200-day moving average is $15.54. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 5.82 and a beta of 0.89.

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

Star Bulk Carriers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, June 6th. This represents a $0.20 annualized dividend and a dividend yield of 1.20%. Star Bulk Carriers's dividend payout ratio (DPR) is currently 10.10%.

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.