Century Bancorp, Inc. (CNBKA) Major Shareholder Acquires $587,276.80 in Stock

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Century Bancorp, Inc. (NASDAQ:CNBKA) major shareholder James J. Filler bought 7,760 shares of the business’s stock in a transaction dated Friday, October 26th. The shares were purchased at an average price of $75.68 per share, for a total transaction of $587,276.80. Following the transaction, the insider now directly owns 641,190 shares of the company’s stock, valued at approximately $48,525,259.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Shares of CNBKA stock opened at $74.21 on Wednesday. The stock has a market capitalization of $410.73 million, a P/E ratio of 11.82 and a beta of 0.60. Century Bancorp, Inc. has a 52-week low of $70.55 and a 52-week high of $89.40. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.61 and a current ratio of 0.61.

Century Bancorp (NASDAQ:CNBKA) last issued its quarterly earnings results on Tuesday, October 9th. The bank reported $1.72 earnings per share (EPS) for the quarter. The firm had revenue of $27.37 million for the quarter. Century Bancorp had a return on equity of 12.94% and a net margin of 18.08%.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Thursday, November 1st will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.65%. The ex-dividend date is Wednesday, October 31st.

A number of hedge funds have recently modified their holdings of CNBKA. Millennium Management LLC purchased a new stake in Century Bancorp in the 2nd quarter valued at approximately $627,000. Delphi Management Inc. MA boosted its holdings in Century Bancorp by 240.3% in the 2nd quarter. Delphi Management Inc. MA now owns 9,568 shares of the bank’s stock valued at $740,000 after purchasing an additional 6,756 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Century Bancorp by 10.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 10,600 shares of the bank’s stock valued at $810,000 after purchasing an additional 1,000 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Century Bancorp by 40.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 16,565 shares of the bank’s stock valued at $1,316,000 after purchasing an additional 4,729 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Century Bancorp by 3.1% in the 2nd quarter. California Public Employees Retirement System now owns 24,599 shares of the bank’s stock valued at $1,879,000 after purchasing an additional 747 shares in the last quarter. Hedge funds and other institutional investors own 35.93% of the company’s stock.

CNBKA has been the topic of several recent research reports. BidaskClub upgraded Century Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th. ValuEngine cut Century Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd.

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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