Insider Buying: Century Bancorp, Inc. (NASDAQ:CNBKA) Major Shareholder Buys 1,931 Shares of Stock
Century Bancorp, Inc. (NASDAQ:CNBKA) major shareholder James J. Filler bought 1,931 shares of the company’s stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $80.99 per share, with a total value of $156,391.69. Following the completion of the transaction, the insider now owns 716,510 shares in the company, valued at $58,030,144.90. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Century Bancorp stock traded up $1.32 on Friday, reaching $81.50. 12,822 shares of the company were exchanged, compared to its average volume of 8,405. Century Bancorp, Inc. has a 1-year low of $65.15 and a 1-year high of $95.70. The company has a market cap of $457.50 million, a P/E ratio of 11.93 and a beta of 0.84. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.59 and a quick ratio of 0.58. The stock’s 50 day moving average price is $84.90 and its 200-day moving average price is $83.57.
Century Bancorp (NASDAQ:CNBKA) last announced its quarterly earnings data on Tuesday, July 9th. The bank reported $1.70 EPS for the quarter. Century Bancorp had a return on equity of 12.63% and a net margin of 22.75%. The business had revenue of $28.25 million during the quarter.
Institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Century Bancorp by 17.9% in the second quarter. BlackRock Inc. now owns 173,280 shares of the bank’s stock valued at $15,232,000 after purchasing an additional 26,342 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Century Bancorp by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 171,330 shares of the bank’s stock worth $11,604,000 after purchasing an additional 4,364 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Century Bancorp by 6.8% in the 2nd quarter. Renaissance Technologies LLC now owns 131,001 shares of the bank’s stock worth $11,515,000 after purchasing an additional 8,301 shares during the period. Clean Yield Group grew its stake in Century Bancorp by 1.2% during the 1st quarter. Clean Yield Group now owns 113,193 shares of the bank’s stock valued at $8,263,000 after purchasing an additional 1,319 shares in the last quarter. Finally, Heartland Advisors Inc. grew its position in shares of Century Bancorp by 0.4% in the 2nd quarter. Heartland Advisors Inc. now owns 81,220 shares of the bank’s stock worth $7,139,000 after acquiring an additional 320 shares in the last quarter. 34.01% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on CNBKA shares. BidaskClub raised Century Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. ValuEngine downgraded Century Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st.
About Century Bancorp
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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