Acadian Asset Management LLC Increases Position in Century Bancorp, Inc. (CNBKA)
Acadian Asset Management LLC boosted its stake in shares of Century Bancorp, Inc. (NASDAQ:CNBKA) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 15,136 shares of the bank’s stock after buying an additional 115 shares during the period. Acadian Asset Management LLC’s holdings in Century Bancorp were worth $961,000 at the end of the most recent reporting period.
Separately, Russell Investments Group Ltd. boosted its stake in shares of Century Bancorp by 21.3% in the second quarter. Russell Investments Group Ltd. now owns 15,951 shares of the bank’s stock valued at $1,014,000 after buying an additional 2,800 shares during the last quarter. 36.90% of the stock is currently owned by institutional investors and hedge funds.
Shares of Century Bancorp, Inc. (NASDAQ CNBKA) traded down 1.66% during mid-day trading on Friday, reaching $65.05. The company’s stock had a trading volume of 6,940 shares. The company has a 50 day moving average price of $65.62 and a 200 day moving average price of $63.01. Century Bancorp, Inc. has a 12 month low of $43.50 and a 12 month high of $68.69. The stock has a market capitalization of $362.13 million, a P/E ratio of 13.30 and a beta of 0.70.
Century Bancorp (NASDAQ:CNBKA) last announced its quarterly earnings results on Tuesday, July 11th. The bank reported $1.47 EPS for the quarter. The firm had revenue of $26.40 million during the quarter. Century Bancorp had a net margin of 22.46% and a return on equity of 11.18%. On average, equities research analysts anticipate that Century Bancorp, Inc. will post $2.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Friday, July 28th. Century Bancorp’s dividend payout ratio (DPR) is currently 9.82%.
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Separately, ValuEngine upgraded Century Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd.
In other news, major shareholder James J. Filler bought 389 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was bought at an average price of $66.71 per share, for a total transaction of $25,950.19. Following the completion of the purchase, the insider now owns 571,548 shares of the company’s stock, valued at approximately $38,127,967.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder James J. Filler bought 1,100 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was purchased at an average price of $59.48 per share, with a total value of $65,428.00. Following the purchase, the insider now directly owns 560,192 shares of the company’s stock, valued at approximately $33,320,220.16. The disclosure for this purchase can be found here. Insiders bought 14,753 shares of company stock valued at $929,821 in the last quarter. 36.91% of the stock is currently owned by corporate insiders.
About Century Bancorp
Century Bancorp, Inc is a state-chartered bank holding company. The Company has a banking subsidiary: Century Bank and Trust Company (the Bank). The Company offers a range of services to commercial enterprises, state and local Governments and agencies, non-profit organizations and individuals. It operates approximately 30 banking offices in 20 cities and towns in Massachusetts, ranging from Braintree in the south to Andover in the north.
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