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

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

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

Shares of Century Bancorp stock traded up $4.60 during trading hours 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. Century Bancorp has a 12 month low of $51.40 and a 12 month high of $95.70. The stock has a 50 day moving average of $74.30 and a 200 day moving average of $84.50. The company has a market capitalization of $349.80 million, a PE ratio of 9.45 and a beta of 0.98. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.57 and a quick ratio of 0.57.

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

In other news, major shareholder James J. Filler acquired 421 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was acquired at an average cost of $91.24 per share, for a total transaction of $38,412.04. Following the completion of the acquisition, the insider now owns 737,433 shares in the company, valued at $67,283,386.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder James J. Filler acquired 1,482 shares of the firm’s stock in a transaction that occurred on Friday, January 24th. The shares were purchased at an average price of $90.18 per share, with a total value of $133,646.76. Following the completion of the acquisition, the insider now owns 737,433 shares of the company’s stock, valued at approximately $66,501,707.94. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 30,220 shares of company stock valued at $2,275,802. 36.91% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of CNBKA. Geode Capital Management LLC boosted its position in Century Bancorp by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 46,590 shares of the bank’s stock valued at $4,191,000 after purchasing an additional 1,418 shares during the last quarter. Marshall Wace LLP boosted its position in Century Bancorp by 31.9% during the fourth quarter. Marshall Wace LLP now owns 2,042 shares of the bank’s stock valued at $184,000 after purchasing an additional 494 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Century Bancorp by 119.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 5,516 shares of the bank’s stock valued at $496,000 after purchasing an additional 3,002 shares during the last quarter. UBS Group AG boosted its position in Century Bancorp by 13.8% during the fourth quarter. UBS Group AG now owns 10,923 shares of the bank’s stock valued at $983,000 after purchasing an additional 1,323 shares during the last quarter. Finally, Oxford Asset Management LLP boosted its position in Century Bancorp by 30.0% during the fourth quarter. Oxford Asset Management LLP now owns 4,060 shares of the bank’s stock valued at $365,000 after purchasing an additional 936 shares during the last quarter. Institutional investors and hedge funds 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.

See Also: CAC 40 Index

To view ValuEngine’s full report, visit ValuEngine’s official website.

Receive News & Ratings for Century Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Century Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.