Century Bancorp, Inc. (CNBKA) Sets New 12-Month High on Insider Buying Activity
Century Bancorp, Inc. (NASDAQ:CNBKA)’s share price hit a new 52-week high on Monday after an insider bought additional shares in the company. The company traded as high as $81.70 and last traded at $81.70, with a volume of 5,575 shares trading hands. The stock had previously closed at $80.10.
Specifically, major shareholder James J. Filler bought 389 shares of the stock in a transaction on Tuesday, August 8th. The stock was acquired at an average cost of $66.71 per share, for a total transaction of $25,950.19. Following the completion of the acquisition, the insider now owns 571,548 shares in the company, valued at approximately $38,127,967.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder James J. Filler bought 3,719 shares of the stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $65.22 per share, with a total value of $242,553.18. Following the completion of the acquisition, the insider now owns 572,544 shares of the company’s stock, valued at approximately $37,341,319.68. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 16,284 shares of company stock valued at $1,087,804. 36.91% of the stock is currently owned by corporate insiders.
The company has a 50 day moving average of $69.19 and a 200 day moving average of $64.82. The company has a market capitalization of $294.27 million, a P/E ratio of 13.98 and a beta of 0.73.
Century Bancorp (NASDAQ:CNBKA) last announced its quarterly earnings results on Tuesday, July 11th. The bank reported $1.47 earnings per share (EPS) for the quarter. Century Bancorp had a return on equity of 11.18% and a net margin of 22.46%. The company had revenue of $26.40 million for the quarter. On average, analysts expect that Century Bancorp, Inc. will post $2.31 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNBKA. Dimensional Fund Advisors LP lifted its position in shares of Century Bancorp by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 120,741 shares of the bank’s stock worth $7,679,000 after purchasing an additional 9,859 shares during the period. Boston Partners boosted its stake in shares of Century Bancorp by 4.3% during the 2nd quarter. Boston Partners now owns 65,014 shares of the bank’s stock valued at $4,135,000 after purchasing an additional 2,700 shares in the last quarter. State Street Corp boosted its stake in shares of Century Bancorp by 3.7% during the 2nd quarter. State Street Corp now owns 57,755 shares of the bank’s stock valued at $3,667,000 after purchasing an additional 2,038 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Century Bancorp by 6.9% during the 2nd quarter. Northern Trust Corp now owns 50,905 shares of the bank’s stock valued at $3,237,000 after purchasing an additional 3,269 shares in the last quarter. Finally, Heartland Advisors Inc. boosted its stake in shares of Century Bancorp by 77.2% during the 2nd quarter. Heartland Advisors Inc. now owns 50,250 shares of the bank’s stock valued at $3,196,000 after purchasing an additional 21,886 shares in the last quarter. Institutional investors and hedge funds own 36.54% of the company’s stock.
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Century Bancorp Company Profile
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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