Insider Buying: Century Bancorp, Inc. (NASDAQ:CNBKA) Major Shareholder Purchases 7,760 Shares of Stock

Century Bancorp, Inc. (NASDAQ:CNBKA) major shareholder James J. Filler acquired 7,760 shares of Century Bancorp stock in a transaction that occurred on Friday, October 26th. The stock was acquired at an average price of $75.68 per share, with a total value of $587,276.80. Following the completion of the purchase, the insider now directly owns 641,190 shares in the company, valued at approximately $48,525,259.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of NASDAQ:CNBKA traded up $1.14 during midday trading on Thursday, hitting $81.80. 1,093 shares of the stock traded hands, compared to its average volume of 4,694. The company has a market cap of $449.03 million, a price-to-earnings ratio of 12.93 and a beta of 0.52. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 1.42. Century Bancorp, Inc. has a one year low of $70.55 and a one year high of $89.40.

Century Bancorp (NASDAQ:CNBKA) last issued its quarterly earnings data on Tuesday, October 9th. The bank reported $1.72 EPS for the quarter. Century Bancorp had a net margin of 18.08% and a return on equity of 12.72%. The firm had revenue of $27.37 million during the quarter.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, October 31st.

Several research analysts recently issued reports on CNBKA shares. BidaskClub lowered shares of Century Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. ValuEngine lowered shares of Century Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 23rd.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Century Bancorp by 2.2% during the second quarter. BlackRock Inc. now owns 149,471 shares of the bank’s stock valued at $11,420,000 after buying an additional 3,208 shares during the period. Russell Investments Group Ltd. grew its holdings in Century Bancorp by 3.3% in the second quarter. Russell Investments Group Ltd. now owns 45,681 shares of the bank’s stock worth $3,491,000 after purchasing an additional 1,443 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Century Bancorp by 40.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 16,565 shares of the bank’s stock worth $1,316,000 after purchasing an additional 4,729 shares during the period. Millennium Management LLC purchased a new stake in Century Bancorp in the second quarter worth about $627,000. Finally, California Public Employees Retirement System grew its holdings in Century Bancorp by 3.1% in the second quarter. California Public Employees Retirement System now owns 24,599 shares of the bank’s stock worth $1,879,000 after purchasing an additional 747 shares during the period. Institutional investors own 35.83% of the company’s stock.

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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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