BidaskClub Downgrades Century Bancorp (NASDAQ:CNBKA) to Sell

BidaskClub downgraded shares of Century Bancorp (NASDAQ:CNBKA) from a hold rating to a sell rating in a report issued on Wednesday, BidAskClub reports.

CNBKA stock opened at $83.31 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.95. Century Bancorp has a 1 year low of $65.15 and a 1 year high of $95.70. The firm has a market capitalization of $466.96 million, a price-to-earnings ratio of 12.17 and a beta of 0.85. The company has a 50-day moving average of $87.40.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, August 1st will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Wednesday, July 31st.



In other news, major shareholder James J. Filler bought 1,102 shares of Century Bancorp stock in a transaction on Friday, May 24th. The shares were bought at an average price of $89.82 per share, with a total value of $98,981.64. Following the acquisition, the insider now directly owns 691,161 shares in the company, valued at approximately $62,080,081.02. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder James J. Filler bought 922 shares of Century Bancorp stock in a transaction on Wednesday, May 22nd. The shares were purchased at an average cost of $88.46 per share, for a total transaction of $81,560.12. Following the acquisition, the insider now owns 689,237 shares in the company, valued at $60,969,905.02. The disclosure for this purchase can be found here. Insiders purchased 14,465 shares of company stock valued at $1,275,862 in the last three months. 36.91% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CNBKA. BNP Paribas Arbitrage SA raised its position in shares of Century Bancorp by 552.2% during the 1st 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 period. Metropolitan Life Insurance Co. NY acquired a new stake in shares of Century Bancorp during the 4th quarter worth approximately $72,000. MetLife Investment Advisors LLC acquired a new stake in shares of Century Bancorp during the 4th quarter worth approximately $99,000. Bessemer Group Inc. acquired a new stake in shares of Century Bancorp during the 2nd quarter worth approximately $105,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Century Bancorp during the 1st quarter worth approximately $130,000. 33.97% of the stock is currently owned by institutional investors.

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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