Seaward Management Limited Partnership Maintains Stake in Century Bancorp, Inc. (CNBKA)
Seaward Management Limited Partnership held its position in shares of Century Bancorp, Inc. (NASDAQ:CNBKA) during the second quarter, Holdings Channel reports. The fund owned 3,800 shares of the bank’s stock at the end of the second quarter. Seaward Management Limited Partnership’s holdings in Century Bancorp were worth $241,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. First Manhattan Co. increased its position in Century Bancorp by 96.8% in the second quarter. First Manhattan Co. now owns 12,400 shares of the bank’s stock valued at $788,000 after buying an additional 6,100 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Century Bancorp during the second quarter valued at approximately $209,000. Strs Ohio increased its position in Century Bancorp by 2.5% in the second quarter. Strs Ohio now owns 8,100 shares of the bank’s stock valued at $515,000 after buying an additional 200 shares during the last quarter. Acadian Asset Management LLC increased its position in Century Bancorp by 0.8% in the second quarter. Acadian Asset Management LLC now owns 15,136 shares of the bank’s stock valued at $961,000 after buying an additional 115 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in Century Bancorp by 21.3% in the second quarter. Russell Investments Group Ltd. now owns 15,951 shares of the bank’s stock valued at $1,014,000 after buying an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 36.90% of the company’s stock.
Century Bancorp, Inc. (CNBKA) opened at 66.35 on Thursday. Century Bancorp, Inc. has a 1-year low of $43.50 and a 1-year high of $68.69. The company has a 50-day moving average price of $65.55 and a 200 day moving average price of $62.99. The stock has a market cap of $369.37 million, a P/E ratio of 13.56 and a beta of 0.70.
Century Bancorp (NASDAQ:CNBKA) last issued its earnings results on Tuesday, July 11th. The bank reported $1.47 earnings per share (EPS) for the quarter. Century Bancorp had a net margin of 22.46% and a return on equity of 11.35%. The company had revenue of $26.40 million for the quarter. Equities analysts expect that Century Bancorp, Inc. will post $2.31 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.72%. The ex-dividend date is Friday, July 28th. Century Bancorp’s dividend payout ratio is currently 9.82%.
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Separately, ValuEngine upgraded Century Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd.
In other Century Bancorp news, major shareholder James J. Filler purchased 1,184 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $60.33 per share, for a total transaction of $71,430.72. Following the purchase, the insider now directly owns 558,568 shares of the company’s stock, valued at approximately $33,698,407.44. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder James J. Filler purchased 1,100 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were acquired at an average price of $59.48 per share, for a total transaction of $65,428.00. Following the purchase, the insider now directly owns 560,192 shares in the company, valued at $33,320,220.16. The disclosure for this purchase can be found here. Insiders purchased 14,787 shares of company stock worth $931,899 in the last 90 days. 36.91% of the stock is currently owned by corporate insiders.
About Century Bancorp
Century Bancorp, Inc is a state-chartered bank holding company. The Company has a banking subsidiary: Century Bank and Trust Company (the Bank). The Company offers a range of services to commercial enterprises, state and local Governments and agencies, non-profit organizations and individuals. It operates approximately 30 banking offices in 20 cities and towns in Massachusetts, ranging from Braintree in the south to Andover in the north.
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