Insider Buying: Century Bancorp, Inc. (NASDAQ:CNBKA) Major Shareholder Buys 200 Shares of Stock
Century Bancorp, Inc. (NASDAQ:CNBKA) major shareholder James J. Filler bought 200 shares of Century Bancorp stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $81.30 per share, for a total transaction of $16,260.00. Following the purchase, the insider now owns 716,510 shares of the company’s stock, valued at approximately $58,252,263. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of CNBKA traded up $1.32 during midday trading on Friday, hitting $81.50. The stock had a trading volume of 12,800 shares, compared to its average volume of 8,783. Century Bancorp, Inc. has a 1 year low of $65.15 and a 1 year high of $95.70. The firm has a market cap of $448.26 million, a PE ratio of 11.69 and a beta of 0.84. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.59 and a quick ratio of 0.58. The stock’s 50 day moving average is $84.90 and its 200 day moving average is $83.57.
Century Bancorp (NASDAQ:CNBKA) last announced its earnings results on Tuesday, July 9th. The bank reported $1.70 earnings per share for the quarter. Century Bancorp had a net margin of 22.75% and a return on equity of 12.63%. The business had revenue of $28.25 million for the quarter.
Several equities research analysts have recently weighed in on CNBKA shares. BidaskClub raised shares of Century Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. ValuEngine downgraded shares of Century Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st.
Several institutional investors and hedge funds have recently made changes to their positions in CNBKA. BNP Paribas Arbitrage SA grew its holdings in shares of Century Bancorp by 552.2% in the first quarter. BNP Paribas Arbitrage SA now owns 600 shares of the bank’s stock worth $44,000 after purchasing an additional 508 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Century Bancorp in the second quarter worth about $68,000. Metropolitan Life Insurance Co. NY bought a new position in shares of Century Bancorp in the fourth quarter worth about $72,000. MetLife Investment Advisors LLC bought a new position in shares of Century Bancorp in the fourth quarter worth about $99,000. Finally, Bessemer Group Inc. bought a new position in shares of Century Bancorp in the second quarter worth about $105,000. 34.01% 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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