Century Bancorp (NASDAQ:CNBKA) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Century Bancorp (NASDAQ:CNBKA) from a strong sell rating to a sell rating in a research report released on Thursday, BidAskClub reports.

CNBKA stock traded up $0.47 during trading on Thursday, hitting $82.58. 4,700 shares of the company’s stock traded hands, compared to its average volume of 8,503. Century Bancorp has a 52 week low of $65.15 and a 52 week high of $95.70. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a fifty day simple moving average of $86.07. The firm has a market capitalization of $466.85 million, a PE ratio of 12.17 and a beta of 0.85.

Century Bancorp (NASDAQ:CNBKA) last released its quarterly earnings data on Tuesday, July 9th. The bank reported $1.70 EPS for the quarter. Century Bancorp had a net margin of 22.75% and a return on equity of 12.85%. The business had revenue of $28.25 million during the quarter.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 31st. This represents a $0.48 annualized dividend and a yield of 0.58%.

In other news, major shareholder James J. Filler bought 500 shares of the stock in a transaction dated Monday, July 22nd. The stock was purchased at an average price of $83.00 per share, for a total transaction of $41,500.00. Following the acquisition, the insider now owns 703,451 shares of the company’s stock, valued at $58,386,433. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder James J. Filler bought 3,608 shares of the stock in a transaction dated Monday, June 3rd. The stock was purchased at an average price of $89.36 per share, with a total value of $322,410.88. Following the acquisition, the insider now directly owns 691,161 shares in the company, valued at approximately $61,762,146.96. The disclosure for this purchase can be found here. Insiders have acquired 15,656 shares of company stock valued at $1,373,479 in the last quarter. 36.91% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in CNBKA. Oppenheimer & Co. Inc. increased its stake in Century Bancorp by 2.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 15,975 shares of the bank’s stock worth $1,166,000 after buying an additional 450 shares during the period. BNP Paribas Arbitrage SA increased its stake in Century Bancorp by 552.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 600 shares of the bank’s stock worth $44,000 after buying an additional 508 shares during the period. Janney Montgomery Scott LLC increased its stake in Century Bancorp by 10.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 5,847 shares of the bank’s stock worth $427,000 after buying an additional 541 shares during the period. Acadian Asset Management LLC increased its stake in Century Bancorp by 11.7% in the 1st quarter. Acadian Asset Management LLC now owns 5,290 shares of the bank’s stock worth $386,000 after buying an additional 556 shares during the period. Finally, Metropolitan Life Insurance Co. NY purchased a new position in Century Bancorp in the 4th quarter worth about $72,000. Hedge funds and other institutional investors own 33.88% of the company’s stock.

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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