ValuEngine Downgrades Century Bancorp (NASDAQ:CNBKA) to Strong Sell

Century Bancorp (NASDAQ:CNBKA) was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Wednesday, ValuEngine reports.

Separately, BidaskClub cut Century Bancorp from a “sell” rating to a “strong sell” rating in a research report on Saturday, February 1st.

NASDAQ CNBKA traded up $4.60 during trading on Wednesday, hitting $67.40. The company’s stock had a trading volume of 10,200 shares, compared to its average volume of 11,895. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.22. The firm has a 50 day moving average price of $74.30 and a 200 day moving average price of $84.50. The firm has a market cap of $349.80 million, a P/E ratio of 9.45 and a beta of 0.98. Century Bancorp has a 52 week low of $51.40 and a 52 week high of $95.70.

Century Bancorp (NASDAQ:CNBKA) last released its quarterly earnings data on Tuesday, January 21st. The bank reported $1.93 earnings per share (EPS) for the quarter. The business had revenue of $30.02 million for the quarter. Century Bancorp had a return on equity of 12.31% and a net margin of 22.36%.

In related news, major shareholder James J. Filler purchased 4,375 shares of the stock in a transaction on Friday, January 31st. The shares were purchased at an average cost of $86.00 per share, for a total transaction of $376,250.00. Following the completion of the transaction, the insider now directly owns 740,411 shares of the company’s stock, valued at approximately $63,675,346. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder James J. Filler purchased 1,482 shares of the stock in a transaction on Friday, January 24th. The stock was bought at an average price of $90.18 per share, for a total transaction of $133,646.76. Following the completion of the transaction, the insider now directly owns 737,433 shares of the company’s stock, valued at $66,501,707.94. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 30,220 shares of company stock worth $2,275,802. 36.91% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in the business. State Street Corp boosted its stake in Century Bancorp by 4.3% in the third quarter. State Street Corp now owns 55,385 shares of the bank’s stock worth $4,852,000 after purchasing an additional 2,283 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in Century Bancorp by 22.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,116 shares of the bank’s stock worth $640,000 after purchasing an additional 1,299 shares in the last quarter. New England Research & Management Inc. boosted its stake in Century Bancorp by 8.2% in the fourth quarter. New England Research & Management Inc. now owns 5,249 shares of the bank’s stock worth $472,000 after purchasing an additional 400 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new position in Century Bancorp in the third quarter worth $91,000. Finally, Renaissance Technologies LLC boosted its stake in Century Bancorp by 14.0% in the fourth quarter. Renaissance Technologies LLC now owns 168,501 shares of the bank’s stock worth $15,158,000 after purchasing an additional 20,752 shares in the last quarter. Hedge funds and other institutional investors own 33.22% of the company’s stock.

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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