Century Bancorp (CNBKA) Raised to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Century Bancorp (NASDAQ:CNBKA) from a buy rating to a strong-buy rating in a research report sent to investors on Friday morning.

Separately, ValuEngine cut Century Bancorp from a hold rating to a sell rating in a research note on Tuesday, October 23rd.

CNBKA opened at $81.99 on Friday. The company has a market cap of $456.44 million, a PE ratio of 13.14 and a beta of 0.52. Century Bancorp has a one year low of $70.55 and a one year high of $89.40. 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 (NASDAQ:CNBKA) last released its earnings results on Tuesday, October 9th. The bank reported $1.72 EPS for the quarter. Century Bancorp had a return on equity of 12.72% and a net margin of 18.08%. The firm had revenue of $27.37 million for the quarter.

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

In related news, major shareholder James J. Filler bought 1,242 shares of the company’s stock in a transaction on Friday, August 31st. The shares were acquired at an average price of $71.99 per share, with a total value of $89,411.58. Following the transaction, the insider now owns 636,997 shares of the company’s stock, valued at $45,857,414.03. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder James J. Filler bought 797 shares of the company’s stock in a transaction on Friday, September 14th. The shares were bought at an average cost of $71.44 per share, for a total transaction of $56,937.68. Following the transaction, the insider now directly owns 638,101 shares in the company, valued at approximately $45,585,935.44. The disclosure for this purchase can be found here. In the last three months, insiders purchased 18,114 shares of company stock worth $1,358,692. 36.91% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its holdings in shares of Century Bancorp by 42.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 5,446 shares of the bank’s stock valued at $393,000 after purchasing an additional 1,611 shares during the last quarter. Millennium Management LLC purchased a new stake in shares of Century Bancorp during the 2nd quarter valued at $627,000. Delphi Management Inc. MA lifted its holdings in shares of Century Bancorp by 240.3% during the 2nd quarter. Delphi Management Inc. MA now owns 9,568 shares of the bank’s stock valued at $740,000 after purchasing an additional 6,756 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Century Bancorp by 10.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 10,600 shares of the bank’s stock valued at $810,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Century Bancorp by 25.9% during the 3rd quarter. Wells Fargo & Company MN now owns 12,551 shares of the bank’s stock valued at $906,000 after purchasing an additional 2,583 shares during the last quarter. 35.83% of the stock is currently owned by institutional investors and hedge funds.

Century Bancorp Company Profile

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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