Century Bancorp, Inc. (NASDAQ:CNBKA) Major Shareholder Acquires $156,391.69 in Stock

Century Bancorp, Inc. (NASDAQ:CNBKA) major shareholder James J. Filler purchased 1,931 shares of the stock in a transaction on Friday, August 16th. The stock was acquired at an average price of $80.99 per share, for a total transaction of $156,391.69. Following the completion of the purchase, the insider now directly owns 716,510 shares in the company, valued at approximately $58,030,144.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Shares of Century Bancorp stock traded up $1.32 during trading on Friday, hitting $81.50. 12,800 shares of the stock were exchanged, compared to its average volume of 8,783. The stock has a market capitalization of $448.26 million, a price-to-earnings ratio of 11.69 and a beta of 0.84. The company has a fifty day moving average price of $84.90 and a 200-day moving average price of $83.57. Century Bancorp, Inc. has a 1-year low of $65.15 and a 1-year high of $95.70. The company has a current ratio of 0.59, a quick ratio of 0.58 and a debt-to-equity ratio of 1.53.

Century Bancorp (NASDAQ:CNBKA) last released its quarterly earnings data on Tuesday, July 9th. The bank reported $1.70 earnings per share for the quarter. The company had revenue of $28.25 million for the quarter. Century Bancorp had a net margin of 22.75% and a return on equity of 12.63%.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.48 annualized dividend and a dividend yield of 0.59%.

Several brokerages have issued reports on CNBKA. BidaskClub upgraded shares of Century Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. ValuEngine lowered shares of Century Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Century Bancorp by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 171,330 shares of the bank’s stock worth $11,604,000 after buying an additional 4,364 shares during the period. Clean Yield Group boosted its holdings in shares of Century Bancorp by 1.2% during the 1st quarter. Clean Yield Group now owns 113,193 shares of the bank’s stock worth $8,263,000 after buying an additional 1,319 shares during the period. Bank of America Corp DE boosted its holdings in shares of Century Bancorp by 4.1% during the 4th quarter. Bank of America Corp DE now owns 29,739 shares of the bank’s stock worth $2,014,000 after buying an additional 1,175 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Century Bancorp by 2.9% during 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. Finally, Metropolitan Life Insurance Co. NY bought a new stake in shares of Century Bancorp during the 4th quarter worth about $72,000. Institutional investors own 34.01% 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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