Century BanCorp (CNBKA) Cut to “Hold” at BidaskClub

BidaskClub downgraded shares of Century BanCorp (NASDAQ:CNBKA) from a buy rating to a hold rating in a report issued on Friday morning.

CNBKA stock opened at $79.75 on Friday. The company has a market capitalization of $443.97, a P/E ratio of 13.73 and a beta of 0.74. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.47. Century BanCorp has a 52 week low of $53.35 and a 52 week high of $89.40.

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Century BanCorp (NASDAQ:CNBKA) last released its earnings results on Tuesday, January 16th. The bank reported $1.52 EPS for the quarter. The company had revenue of $26.11 million during the quarter. Century BanCorp had a net margin of 17.71% and a return on equity of 12.49%.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 15th. Investors of record on Tuesday, May 1st will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Monday, April 30th.

In other Century BanCorp news, major shareholder James J. Filler acquired 500 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was acquired at an average cost of $80.86 per share, for a total transaction of $40,430.00. Following the purchase, the insider now owns 608,829 shares in the company, valued at approximately $49,229,912.94. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder James J. Filler acquired 760 shares of the firm’s stock in a transaction on Wednesday, April 11th. The shares were acquired at an average price of $79.10 per share, with a total value of $60,116.00. Following the completion of the purchase, the insider now owns 619,853 shares in the company, valued at approximately $49,030,372.30. The disclosure for this purchase can be found here. Insiders purchased a total of 16,520 shares of company stock valued at $1,308,548 over the last quarter. 36.91% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Century BanCorp by 0.5% during the 4th quarter. BlackRock Inc. now owns 148,544 shares of the bank’s stock valued at $11,624,000 after acquiring an additional 750 shares during the period. Dimensional Fund Advisors LP lifted its stake in Century BanCorp by 10.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 133,337 shares of the bank’s stock valued at $10,680,000 after acquiring an additional 12,596 shares during the period. Renaissance Technologies LLC lifted its stake in Century BanCorp by 15.6% during the 4th quarter. Renaissance Technologies LLC now owns 111,600 shares of the bank’s stock valued at $8,733,000 after acquiring an additional 15,100 shares during the period. Boston Partners increased its holdings in shares of Century BanCorp by 3.9% during the 4th quarter. Boston Partners now owns 78,658 shares of the bank’s stock valued at $6,155,000 after purchasing an additional 2,944 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Century BanCorp by 11.2% during the 4th quarter. Bank of New York Mellon Corp now owns 36,100 shares of the bank’s stock valued at $2,825,000 after purchasing an additional 3,637 shares in the last quarter. Institutional investors and hedge funds own 36.94% of the company’s stock.

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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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