BidaskClub upgraded shares of Century Bancorp (NASDAQ:CNBKA) from a hold rating to a buy rating in a report published on Thursday morning, BidAskClub reports.

Separately, ValuEngine lowered Century Bancorp from a hold rating to a sell rating in a research report on Thursday, August 1st.

Shares of CNBKA stock traded down $0.89 during trading hours on Thursday, reaching $89.41. The company had a trading volume of 11,503 shares, compared to its average volume of 8,273. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a fifty day moving average of $82.21 and a 200-day moving average of $84.14. The company has a market capitalization of $495.54 million, a price-to-earnings ratio of 12.55 and a beta of 0.86. Century Bancorp has a 12-month low of $65.15 and a 12-month high of $95.70.

Century Bancorp (NASDAQ:CNBKA) last posted its quarterly earnings results on Tuesday, July 9th. The bank reported $1.70 earnings per share (EPS) for the quarter. The business had revenue of $28.25 million during the quarter. Century Bancorp had a return on equity of 12.63% and a net margin of 22.75%.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.54%.

In other Century Bancorp news, major shareholder James J. Filler acquired 300 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were purchased at an average cost of $86.55 per share, for a total transaction of $25,965.00. Following the completion of the acquisition, the insider now owns 699,211 shares of the company’s stock, valued at approximately $60,516,712.05. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James J. Filler acquired 431 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was acquired at an average price of $85.41 per share, for a total transaction of $36,811.71. Following the completion of the acquisition, the insider now directly owns 699,211 shares of the company’s stock, valued at approximately $59,719,611.51. The disclosure for this purchase can be found here. Insiders bought 25,853 shares of company stock valued at $2,134,689 over the last 90 days. Company insiders own 36.91% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA lifted its stake in Century Bancorp by 552.2% during 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 in the last quarter. Bank of Montreal Can acquired a new position in Century Bancorp during the second quarter worth $68,000. Bessemer Group Inc. acquired a new position in Century Bancorp during the second quarter worth $105,000. SG Americas Securities LLC acquired a new position in Century Bancorp during the first quarter worth $130,000. Finally, First Trust Advisors LP acquired a new position in Century Bancorp during the second quarter worth $227,000. Hedge funds and other institutional investors own 33.73% of the company’s stock.

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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