Short Interest in Century Bancorp, Inc. (NASDAQ:CNBKA) Declines By 26.4%

Century Bancorp, Inc. (NASDAQ:CNBKA) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 8,100 shares, a drop of 26.4% from the January 15th total of 11,000 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average trading volume of 7,600 shares, the short-interest ratio is currently 1.1 days.

Shares of CNBKA traded down $0.70 during trading hours on Friday, hitting $85.10. 1,900 shares of the stock were exchanged, compared to its average volume of 9,216. Century Bancorp has a fifty-two week low of $70.20 and a fifty-two week high of $95.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.58 and a quick ratio of 0.58. The business has a 50-day moving average of $89.22 and a 200-day moving average of $86.60. The firm has a market capitalization of $474.16 million, a P/E ratio of 11.94 and a beta of 0.82.

Century Bancorp (NASDAQ:CNBKA) last posted its quarterly earnings data on Tuesday, January 21st. The bank reported $1.93 earnings per share for the quarter. Century Bancorp had a net margin of 22.36% and a return on equity of 12.44%. The company had revenue of $30.02 million during the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Monday, February 3rd will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, January 31st.

In other Century Bancorp news, major shareholder James J. Filler purchased 2,037 shares of the company’s stock in a transaction dated Friday, February 7th. The stock was purchased at an average price of $85.40 per share, with a total value of $173,959.80. Following the completion of the purchase, the insider now owns 743,890 shares of the company’s stock, valued at $63,528,206. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder James J. Filler purchased 1,371 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were acquired at an average cost of $87.99 per share, with a total value of $120,634.29. Following the purchase, the insider now directly owns 733,502 shares of the company’s stock, valued at approximately $64,540,840.98. The disclosure for this purchase can be found here. Insiders have bought 16,338 shares of company stock valued at $1,433,172 in the last ninety days. Insiders own 36.91% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CNBKA. BlackRock Inc. grew its holdings in Century Bancorp by 17.9% in the second quarter. BlackRock Inc. now owns 173,280 shares of the bank’s stock worth $15,232,000 after purchasing an additional 26,342 shares during the period. Renaissance Technologies LLC grew its holdings in Century Bancorp by 14.0% in the fourth quarter. Renaissance Technologies LLC now owns 168,501 shares of the bank’s stock worth $15,158,000 after purchasing an additional 20,752 shares during the period. State Street Corp grew its holdings in Century Bancorp by 2.3% in the fourth quarter. State Street Corp now owns 56,674 shares of the bank’s stock worth $5,098,000 after purchasing an additional 1,289 shares during the period. Russell Investments Group Ltd. grew its holdings in Century Bancorp by 3.7% in the fourth quarter. Russell Investments Group Ltd. now owns 52,401 shares of the bank’s stock worth $4,712,000 after purchasing an additional 1,859 shares during the period. Finally, Panagora Asset Management Inc. grew its holdings in Century Bancorp by 14.2% in the fourth quarter. Panagora Asset Management Inc. now owns 34,835 shares of the bank’s stock worth $3,134,000 after purchasing an additional 4,338 shares during the period. Institutional investors own 33.83% of the company’s stock.

Several equities analysts have recently issued reports on CNBKA shares. BidaskClub downgraded shares of Century Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, February 1st. ValuEngine downgraded shares of Century Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, December 13th.

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.

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