BidaskClub Upgrades Century Bancorp (NASDAQ:CNBKA) to Hold

Century Bancorp (NASDAQ:CNBKA) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Saturday, BidAskClub reports.

Separately, TheStreet upgraded shares of Century Bancorp from a “c+” rating to a “b-” rating in a research report on Tuesday, June 16th.

Shares of NASDAQ:CNBKA opened at $67.19 on Friday. The firm has a market capitalization of $374.11 million, a PE ratio of 9.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.57 and a current ratio of 0.57. Century Bancorp has a 52-week low of $51.40 and a 52-week high of $93.49. The firm has a fifty day moving average of $70.51 and a 200 day moving average of $69.60.

Century Bancorp (NASDAQ:CNBKA) last announced its quarterly earnings data on Tuesday, July 14th. The bank reported $1.81 earnings per share for the quarter. The company had revenue of $29.86 million for the quarter. Century Bancorp had a return on equity of 11.97% and a net margin of 23.35%.

In related news, major shareholder James J. Filler purchased 1,618 shares of the stock in a transaction dated Wednesday, June 24th. The stock was purchased at an average price of $72.40 per share, with a total value of $117,143.20. Following the transaction, the insider now directly owns 817,258 shares in the company, valued at $59,169,479.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William P. Hornby bought 500 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was purchased at an average price of $70.59 per share, for a total transaction of $35,295.00. Following the purchase, the chief financial officer now owns 1,000 shares of the company’s stock, valued at approximately $70,590. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 22,926 shares of company stock valued at $1,619,526. Insiders own 36.91% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in Century Bancorp by 35.3% in the second quarter. Bank of Montreal Can now owns 782 shares of the bank’s stock worth $54,000 after acquiring an additional 204 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Century Bancorp by 36.2% during the first quarter. BNP Paribas Arbitrage SA now owns 876 shares of the bank’s stock worth $55,000 after purchasing an additional 233 shares in the last quarter. Strs Ohio raised its stake in Century Bancorp by 4.5% during the 2nd quarter. Strs Ohio now owns 6,900 shares of the bank’s stock valued at $536,000 after purchasing an additional 300 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Century Bancorp by 6.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 7,992 shares of the bank’s stock worth $621,000 after purchasing an additional 455 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Century Bancorp by 58.2% in the 1st quarter. Citigroup Inc. now owns 1,413 shares of the bank’s stock worth $88,000 after purchasing an additional 520 shares during the period. 33.09% of the stock is owned by hedge funds and other 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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