First Hawaiian Bank Buys 440 Shares of Copa Holdings, S.A. (NYSE:CPA)

First Hawaiian Bank boosted its holdings in shares of Copa Holdings, S.A. (NYSE:CPA) by 8.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,440 shares of the transportation company’s stock after purchasing an additional 440 shares during the quarter. First Hawaiian Bank’s holdings in Copa were worth $518,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors lifted its position in Copa by 5.9% during the 4th quarter. Capital World Investors now owns 3,923,752 shares of the transportation company’s stock worth $417,134,000 after buying an additional 218,236 shares in the last quarter. Sei Investments Co. lifted its position in Copa by 34.8% during the 1st quarter. Sei Investments Co. now owns 346,078 shares of the transportation company’s stock worth $36,047,000 after buying an additional 89,354 shares in the last quarter. Fourth Sail Capital LP bought a new position in shares of Copa in the fourth quarter valued at $7,654,000. Sprucegrove Investment Management Ltd. raised its holdings in shares of Copa by 2.7% in the 4th quarter. Sprucegrove Investment Management Ltd. now owns 2,661,539 shares of the transportation company’s stock valued at $282,948,000 after purchasing an additional 70,300 shares during the period. Finally, Raymond James & Associates boosted its position in Copa by 60.4% during the first quarter. Raymond James & Associates now owns 182,567 shares of the transportation company’s stock worth $19,016,000 after purchasing an additional 68,724 shares during the period. Institutional investors own 70.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. TD Cowen dropped their price target on shares of Copa from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Raymond James boosted their price objective on shares of Copa from $165.00 to $168.00 and gave the stock a “strong-buy” rating in a research note on Friday, May 17th. Morgan Stanley assumed coverage on shares of Copa in a research note on Friday, May 24th. They issued an “overweight” rating and a $140.00 price objective on the stock. Evercore ISI boosted their price target on Copa from $150.00 to $165.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Finally, StockNews.com downgraded Copa from a “buy” rating to a “hold” rating in a research note on Wednesday, June 19th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Copa has a consensus rating of “Buy” and a consensus target price of $157.60.

Copa Stock Performance

CPA stock traded down $2.55 during midday trading on Monday, reaching $81.47. 296,636 shares of the company’s stock traded hands, compared to its average volume of 276,780. Copa Holdings, S.A. has a 52-week low of $78.12 and a 52-week high of $114.00. The company has a current ratio of 0.99, a quick ratio of 0.90 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.21 billion, a P/E ratio of 5.86, a PEG ratio of 0.42 and a beta of 1.47. The stock’s 50-day moving average is $94.37 and its 200 day moving average is $98.34.

Copa (NYSE:CPA) last issued its earnings results on Wednesday, May 15th. The transportation company reported $4.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.92. The firm had revenue of $893.47 million during the quarter, compared to analyst estimates of $866.73 million. Copa had a net margin of 16.42% and a return on equity of 36.59%. The business’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.99 earnings per share. As a group, analysts anticipate that Copa Holdings, S.A. will post 16.24 EPS for the current year.

Copa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were paid a dividend of $1.61 per share. This represents a $6.44 annualized dividend and a yield of 7.90%. The ex-dividend date of this dividend was Friday, May 31st. Copa’s payout ratio is 46.33%.

Copa Company Profile

Copa Holdings, SA, through its subsidiaries, provides airline passenger and cargo services. The company offers approximately 327 daily scheduled flights to 78 destinations in 32 countries in North, Central, and South America, as well as the Caribbean from its Panama City hub. As of December 31, 2022, it operated a fleet of 97 aircraft comprising 67 Boeing 737-800 Next Generation aircraft, 9 Boeing 737-700 Next Generation aircraft, 1 Boeing 737-800 Boeing Converted Freighter, and 20 737-MAX aircraft.