Century Bancorp (NASDAQ:CNBKA) Downgraded by ValuEngine

ValuEngine cut shares of Century Bancorp (NASDAQ:CNBKA) from a hold rating to a sell rating in a research report report published on Thursday, ValuEngine reports.

Separately, BidaskClub raised Century Bancorp from a strong sell rating to a sell rating in a research note on Thursday.

NASDAQ CNBKA opened at $82.12 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $459.72 million, a PE ratio of 11.99 and a beta of 0.84. Century Bancorp has a 1 year low of $65.15 and a 1 year high of $95.70. The business has a 50-day simple moving average of $86.07.

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

The company 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 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 acquired 3,608 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were acquired at an average cost of $89.36 per share, with a total value of $322,410.88. Following the transaction, the insider now owns 691,161 shares in the company, valued at approximately $61,762,146.96. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder James J. Filler acquired 1,102 shares of the business’s stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $89.82 per share, for a total transaction of $98,981.64. Following the completion of the transaction, the insider now owns 691,161 shares in the company, valued at approximately $62,080,081.02. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 15,656 shares of company stock worth $1,373,479. Insiders own 36.91% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Swiss National Bank bought a new stake in shares of Century Bancorp in the 2nd quarter worth approximately $475,000. Dimensional Fund Advisors LP boosted its position 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 in the last quarter. BlackRock Inc. boosted its position in shares of Century Bancorp by 2.3% in the 4th quarter. BlackRock Inc. now owns 153,524 shares of the bank’s stock worth $10,397,000 after purchasing an additional 3,489 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of Century Bancorp in the 2nd quarter worth approximately $227,000. Finally, SG Americas Securities LLC bought a new stake in shares of Century Bancorp in the 1st quarter worth approximately $130,000. 33.83% of the stock is currently owned by institutional investors and hedge funds.

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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