Ballentine Partners LLC Acquires 1,012 Shares of Costamare Inc. (NYSE:CMRE)

Ballentine Partners LLC boosted its holdings in Costamare Inc. (NYSE:CMRE) by 7.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,262 shares of the shipping company’s stock after purchasing an additional 1,012 shares during the period. Ballentine Partners LLC’s holdings in Costamare were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of CMRE. nVerses Capital LLC boosted its holdings in Costamare by 1,700.0% in the 3rd quarter. nVerses Capital LLC now owns 1,800 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 1,700 shares during the period. CWM LLC increased its position in Costamare by 53.6% during the 2nd quarter. CWM LLC now owns 4,302 shares of the shipping company’s stock worth $71,000 after purchasing an additional 1,502 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new position in Costamare during the 2nd quarter worth approximately $80,000. Blue Trust Inc. increased its position in Costamare by 2,540.4% during the 3rd quarter. Blue Trust Inc. now owns 7,393 shares of the shipping company’s stock worth $121,000 after purchasing an additional 7,113 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Costamare in the 2nd quarter valued at approximately $185,000. 58.08% of the stock is currently owned by institutional investors and hedge funds.

Costamare Price Performance

CMRE opened at $13.40 on Wednesday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 5.19 and a beta of 1.37. The company has a quick ratio of 1.54, a current ratio of 1.61 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $14.17 and a 200-day moving average price of $14.31. Costamare Inc. has a twelve month low of $8.54 and a twelve month high of $17.58.

Costamare (NYSE:CMRE) last posted its earnings results on Wednesday, July 31st. The shipping company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.05. The firm had revenue of $515.42 million during the quarter, compared to the consensus estimate of $380.41 million. Costamare had a net margin of 19.63% and a return on equity of 13.63%. Equities analysts expect that Costamare Inc. will post 3.05 EPS for the current year.

Costamare Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Monday, October 21st will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 21st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.43%. Costamare’s dividend payout ratio (DPR) is currently 17.83%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CMRE shares. Jefferies Financial Group upped their price target on shares of Costamare from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Stifel Nicolaus raised their price objective on shares of Costamare from $12.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Costamare from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd.

Costamare Profile