Century Bancorp (CNBKA) Cut to “Buy” at BidaskClub
BidaskClub lowered shares of Century Bancorp (NASDAQ:CNBKA) from a strong-buy rating to a buy rating in a research report report published on Tuesday.
Separately, ValuEngine upgraded Century Bancorp from a sell rating to a hold rating in a research note on Thursday, October 11th.
Shares of CNBKA opened at $80.11 on Tuesday. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a market capitalization of $454.27 million, a PE ratio of 13.08 and a beta of 0.52. Century Bancorp has a one year low of $70.55 and a one year high of $85.35.
The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were paid a dividend of $0.12 per share. The ex-dividend date was Wednesday, October 31st. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%.
In related news, major shareholder James J. Filler purchased 400 shares of the business’s stock in a transaction on Friday, November 23rd. The stock was acquired at an average price of $80.50 per share, for a total transaction of $32,200.00. Following the purchase, the insider now owns 650,786 shares of the company’s stock, valued at $52,388,273. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder James J. Filler purchased 1,839 shares of the business’s stock in a transaction on Monday, November 5th. The shares were bought at an average price of $73.94 per share, with a total value of $135,975.66. The disclosure for this purchase can be found here. Insiders have acquired a total of 17,686 shares of company stock valued at $1,341,692 in the last quarter. Company insiders own 36.91% of the company’s stock.
Several institutional investors have recently bought and sold shares of CNBKA. Janney Montgomery Scott LLC lifted its position in shares of Century Bancorp by 42.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 5,446 shares of the bank’s stock worth $393,000 after buying an additional 1,611 shares in the last quarter. Millennium Management LLC bought a new position in shares of Century Bancorp during the 2nd quarter worth approximately $627,000. Delphi Management Inc. MA lifted its position in shares of Century Bancorp by 240.3% during the 2nd quarter. Delphi Management Inc. MA now owns 9,568 shares of the bank’s stock worth $740,000 after buying an additional 6,756 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Century Bancorp by 10.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 10,600 shares of the bank’s stock worth $810,000 after buying an additional 1,000 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Century Bancorp by 25.9% during the 3rd quarter. Wells Fargo & Company MN now owns 12,551 shares of the bank’s stock worth $906,000 after buying an additional 2,583 shares in the last quarter. 35.85% of the stock is currently owned by hedge funds and other institutional investors.
Century Bancorp Company Profile
Century Bancorp, Inc operates as a bank holding company for Century Bank and Trust Company that provides banking products and services. The company accepts savings accounts, NOW accounts, demand deposits, time deposits, and money market accounts, as well as cash management accounts. It offers single-family and multi-family residential loans, municipal loans, commercial and residential real estate loans, and various consumer loans, as well as provides loans for the construction of residential homes, multi-family properties, commercial real estate properties, and land development.
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