Century Bancorp, Inc. (CNBKA) Position Decreased by LSV Asset Management
LSV Asset Management decreased its stake in Century Bancorp, Inc. (NASDAQ:CNBKA) by 5.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 34,664 shares of the bank’s stock after selling 2,100 shares during the period. LSV Asset Management’s holdings in Century Bancorp were worth $2,712,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in CNBKA. Wells Fargo & Company MN boosted its position in Century Bancorp by 54.2% during the 3rd quarter. Wells Fargo & Company MN now owns 3,540 shares of the bank’s stock worth $283,000 after acquiring an additional 1,244 shares during the period. The Manufacturers Life Insurance Company boosted 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 worth $249,000 after acquiring an additional 3,642 shares during the period. ClariVest Asset Management LLC boosted its position in Century Bancorp by 26.1% during the 3rd quarter. ClariVest Asset Management LLC now owns 5,111 shares of the bank’s stock worth $409,000 after acquiring an additional 1,057 shares during the period. SG Americas Securities LLC acquired a new stake in Century Bancorp during the 3rd quarter worth about $451,000. Finally, Cornerstone Capital Management Holdings LLC. boosted 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 worth $419,000 after acquiring an additional 1,400 shares during the period. Institutional investors and hedge funds own 35.41% of the company’s stock.
Shares of Century Bancorp, Inc. (NASDAQ:CNBKA) opened at $77.15 on Wednesday. The stock has a market capitalization of $435.06, a PE ratio of 14.16 and a beta of 0.75. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.61 and a current ratio of 0.61. Century Bancorp, Inc. has a 1-year low of $53.35 and a 1-year high of $89.40.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be issued a dividend of $0.12 per share. The ex-dividend date is Wednesday, January 31st. This represents a $0.48 annualized dividend and a dividend yield of 0.62%. Century Bancorp’s dividend payout ratio is 12.00%.
In related news, major shareholder James J. Filler acquired 475 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were acquired at an average cost of $84.48 per share, with a total value of $40,128.00. Following the purchase, the insider now owns 592,001 shares of the company’s stock, valued at $50,012,244.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder James J. Filler acquired 367 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average cost of $84.34 per share, for a total transaction of $30,952.78. Following the completion of the purchase, the insider now directly owns 592,001 shares in the company, valued at approximately $49,929,364.34. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 25,718 shares of company stock valued at $2,086,234. 36.91% of the stock is owned by corporate insiders.
CNBKA has been the subject of a number of research reports. BidaskClub lowered Century Bancorp from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 30th. ValuEngine lowered Century Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
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About Century Bancorp
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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