Short Interest in Century Bancorp, Inc. (NASDAQ:CNBKA) Drops By 23.6%

Century Bancorp, Inc. (NASDAQ:CNBKA) saw a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 11,000 shares, a drop of 23.6% from the December 31st total of 14,400 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 6,900 shares, the days-to-cover ratio is presently 1.6 days.

Shares of CNBKA traded down $0.99 during mid-day trading on Wednesday, hitting $88.35. 179 shares of the company’s stock were exchanged, compared to its average volume of 10,153. Century Bancorp has a fifty-two week low of $70.20 and a fifty-two week high of $95.70. The firm has a market capitalization of $503.03 million, a P/E ratio of 12.45 and a beta of 0.82. The business’s 50 day moving average is $90.06 and its two-hundred day moving average is $86.50. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.75.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.12 per share. The ex-dividend date is Friday, January 31st. This represents a $0.48 annualized dividend and a dividend yield of 0.54%.

In other news, major shareholder James J. Filler acquired 300 shares of the company’s stock in a transaction on Friday, November 15th. The shares were bought at an average price of $87.00 per share, with a total value of $26,100.00. Following the completion of the acquisition, the insider now owns 729,355 shares in the company, valued at approximately $63,453,885. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder James J. Filler bought 1,392 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were acquired at an average price of $86.01 per share, with a total value of $119,725.92. Following the purchase, the insider now directly owns 731,818 shares of the company’s stock, valued at approximately $62,943,666.18. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 7,987 shares of company stock worth $711,902. Corporate insiders own 36.91% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CNBKA. BlackRock Inc. lifted its position 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 purchasing an additional 26,342 shares during the period. State Street Corp lifted its position in Century Bancorp by 4.3% in the third quarter. State Street Corp now owns 55,385 shares of the bank’s stock valued at $4,852,000 after purchasing an additional 2,283 shares during the period. Northern Trust Corp lifted its position in Century Bancorp by 3.0% in the second quarter. Northern Trust Corp now owns 50,321 shares of the bank’s stock valued at $4,423,000 after purchasing an additional 1,485 shares during the period. Bank of New York Mellon Corp lifted its position in Century Bancorp by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 37,572 shares of the bank’s stock valued at $3,302,000 after purchasing an additional 1,458 shares during the period. Finally, Bank of America Corp DE lifted its position in Century Bancorp by 4.6% in the second quarter. Bank of America Corp DE now owns 29,456 shares of the bank’s stock valued at $2,589,000 after purchasing an additional 1,286 shares during the period. Institutional investors and hedge funds own 33.93% of the company’s stock.

CNBKA has been the subject of several recent research reports. BidaskClub downgraded shares of Century Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, January 16th. ValuEngine downgraded shares of Century Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, December 13th.

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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