Century Bancorp, Inc. (NASDAQ:CNBKA) Short Interest Update

Century Bancorp, Inc. (NASDAQ:CNBKA) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 23,600 shares, an increase of 10.8% from the August 15th total of 21,300 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 9,100 shares, the short-interest ratio is presently 2.6 days.

CNBKA traded down $1.90 during midday trading on Friday, hitting $87.80. The company had a trading volume of 23,215 shares, compared to its average volume of 6,517. Century Bancorp has a twelve month low of $65.15 and a twelve month high of $95.70. The firm’s 50-day simple moving average is $85.09 and its 200-day simple moving average is $85.70. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market capitalization of $490.62 million, a PE ratio of 12.63 and a beta of 0.85.

Century Bancorp (NASDAQ:CNBKA) last issued its quarterly earnings results on Tuesday, July 9th. The bank reported $1.70 EPS for the quarter. The company had revenue of $28.25 million during the quarter. Century Bancorp had a net margin of 22.36% and a return on equity of 12.56%.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, October 31st.

In related news, major shareholder James J. Filler acquired 300 shares of the firm’s stock in a transaction dated Friday, July 19th. The stock was acquired at an average cost of $83.60 per share, for a total transaction of $25,080.00. Following the completion of the acquisition, the insider now directly owns 703,451 shares of the company’s stock, valued at approximately $58,808,503.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder James J. Filler acquired 4,009 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $82.61 per share, with a total value of $331,183.49. Following the completion of the acquisition, the insider now directly owns 708,591 shares of the company’s stock, valued at $58,536,702.51. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 23,908 shares of company stock valued at $1,965,808. Insiders own 36.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CNBKA. BlackRock Inc. lifted its stake in Century Bancorp by 17.9% in the second quarter. BlackRock Inc. now owns 173,280 shares of the bank’s stock valued at $15,232,000 after buying an additional 26,342 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Century Bancorp by 6.8% in the second quarter. Renaissance Technologies LLC now owns 131,001 shares of the bank’s stock worth $11,515,000 after purchasing an additional 8,301 shares in the last quarter. Swiss National Bank bought a new stake in shares of Century Bancorp in the second quarter worth $475,000. Dimensional Fund Advisors LP lifted its position in shares of Century Bancorp by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 171,330 shares of the bank’s stock worth $11,604,000 after purchasing an additional 4,364 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in shares of Century Bancorp in the second quarter worth $341,000. Hedge funds and other institutional investors own 33.73% of the company’s stock.

A number of equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Century Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. ValuEngine upgraded shares of Century Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday.

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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