Century Bancorp, Inc. (CNBKA) Shares Sold by Banc Funds Co. LLC
Banc Funds Co. LLC reduced its stake in Century Bancorp, Inc. (NASDAQ:CNBKA) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 72,882 shares of the bank’s stock after selling 4,022 shares during the period. Banc Funds Co. LLC’s holdings in Century Bancorp were worth $5,703,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in shares of Century Bancorp by 1,300.7% during the second quarter. The Manufacturers Life Insurance Company now owns 3,922 shares of the bank’s stock worth $249,000 after purchasing an additional 3,642 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Century Bancorp by 54.2% during the third quarter. Wells Fargo & Company MN now owns 3,540 shares of the bank’s stock worth $283,000 after purchasing an additional 1,244 shares during the period. First Trust Advisors LP bought a new position in shares of Century Bancorp during the fourth quarter worth approximately $340,000. ClariVest Asset Management LLC increased its holdings in shares of Century Bancorp by 26.1% during the third quarter. ClariVest Asset Management LLC now owns 5,111 shares of the bank’s stock worth $409,000 after purchasing an additional 1,057 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of Century Bancorp during the third quarter worth approximately $451,000. 35.90% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder James J. Filler bought 300 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were purchased at an average price of $84.46 per share, for a total transaction of $25,338.00. Following the completion of the transaction, the insider now directly owns 596,619 shares of the company’s stock, valued at approximately $50,390,440.74. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder James J. Filler bought 1,200 shares of the business’s stock in a transaction on Friday, December 15th. The stock was bought at an average price of $84.17 per share, for a total transaction of $101,004.00. Following the transaction, the insider now directly owns 596,619 shares of the company’s stock, valued at $50,217,421.23. The disclosure for this purchase can be found here. Insiders have purchased a total of 23,488 shares of company stock worth $1,879,381 in the last quarter. 36.91% of the stock is currently owned by company insiders.
Century Bancorp (NASDAQ:CNBKA) last posted its quarterly earnings results on Tuesday, January 16th. The bank reported $1.52 earnings per share (EPS) for the quarter. The business had revenue of $26.11 million for the quarter. Century Bancorp had a net margin of 17.16% and a return on equity of 12.08%.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, January 31st. This represents a $0.48 annualized dividend and a dividend yield of 0.63%. Century Bancorp’s dividend payout ratio is 12.00%.
Several brokerages have recently commented on CNBKA. BidaskClub raised shares of Century Bancorp from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. ValuEngine cut shares of Century Bancorp from a “buy” rating to a “hold” rating in a report on Friday, December 1st.
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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