Ringed Kingfisher
Birds of Panama - large bird photo gallery
The ringed kingfisher (Megaceryle torquata) is a large, conspicuous and noisy kingfisher, commonly found along the lower Rio Grande valley in southeasternmost Texas in the United States through Central America to Tierra del Fuego in South America. It is often seen perched prominently on trees, posts, or other suitable "watchpoints" close to water before plunging in head first after its fish prey. They also eat insects and small amphibians. For more details from Wikipedia about the Ringed Kingfisher please see this page here.
This image was taken at the end of the Santa Clara Beach where a small river enters the Pacific Ocean.