Russell Investments Group Ltd. grew its holdings in Century Bancorp, Inc. (NASDAQ:CNBKA) by 68.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 26,897 shares of the bank’s stock after buying an additional 10,946 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.48% of Century Bancorp worth $2,154,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new position in shares of Century Bancorp in the 2nd quarter worth approximately $209,000. The Manufacturers Life Insurance Company increased its position in Century Bancorp by 1,300.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,922 shares of the bank’s stock valued at $249,000 after buying an additional 3,642 shares in the last quarter. ZPR Investment Management increased its position in Century Bancorp by 2.7% during the 2nd quarter. ZPR Investment Management now owns 4,815 shares of the bank’s stock valued at $306,000 after buying an additional 125 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in Century Bancorp by 27.0% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 6,593 shares of the bank’s stock valued at $419,000 after buying an additional 1,400 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in Century Bancorp by 1.4% during the 2nd quarter. Prudential Financial Inc. now owns 7,420 shares of the bank’s stock valued at $472,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 36.50% of the company’s stock.
Century Bancorp, Inc. (NASDAQ CNBKA) traded up $0.30 during mid-day trading on Friday, hitting $80.70. The stock had a trading volume of 4,617 shares, compared to its average volume of 5,648. The stock has a market cap of $447.59, a P/E ratio of 15.61 and a beta of 0.75. Century Bancorp, Inc. has a 52-week low of $53.35 and a 52-week high of $89.40. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.50.
Century Bancorp (NASDAQ:CNBKA) last released its quarterly earnings results on Tuesday, October 10th. The bank reported $1.44 earnings per share (EPS) for the quarter. The firm had revenue of $25.30 million for the quarter. Century Bancorp had a return on equity of 11.47% and a net margin of 23.11%.
In other Century Bancorp news, major shareholder James J. Filler acquired 1,714 shares of the stock in a transaction dated Friday, December 1st. The shares were acquired at an average cost of $85.42 per share, for a total transaction of $146,409.88. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder James J. Filler bought 300 shares of Century Bancorp stock in a transaction dated Wednesday, October 25th. The stock was purchased at an average cost of $85.07 per share, for a total transaction of $25,521.00. Following the completion of the acquisition, the insider now directly owns 584,467 shares of the company’s stock, valued at approximately $49,720,607.69. The disclosure for this purchase can be found here. Insiders have purchased 27,067 shares of company stock worth $2,242,686 over the last quarter. 36.91% of the stock is owned by company insiders.
A number of analysts have commented on the company. ValuEngine lowered Century Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st. BidaskClub lowered Century Bancorp from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 30th.
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Century Bancorp 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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