Insiders Are Selling – Century Bancorp, Inc. (NASDAQ:CNBKA)


Century Bancorp, Inc. (NASDAQ:CNBKA) has been the object of insider selling activity recently. Paul A. Evangelista, EVP disclosed the sale of 0 shares. The shares were sold on September 25th for an average price of $127.52. The EVP now owns $251,344 of the stock according to the SEC filing. Barry R. Sloane, CEO sold $0 worth of shares at an average price of $147.25 on Tue the 10th. That brings the CEO’s holdings to $224,812 per an SEC filing yesterday.

EVP Paul A. Evangelista sold 0 shares at an average price of $147.25 on October 10th. Evangelista now owns $290,308 of stock as reported to the SEC.

Century Bancorp, Inc., launched on January 7, 1972, 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. The Company operates approximately 30 banking offices in 20 cities and towns in Massachusetts, ranging from Braintree in the south to Andover in the north. The Bank’s customers consist primarily of small and medium-sized businesses and retail customers in these communities and surrounding areas, as well as local governments and institutions throughout Massachusetts, New Hampshire, Rhode Island, Connecticut and New York..

Here are a few substantial investment firms who have updated their positions. Spark Investment Management LLC trimmed its ownership by selling 800 shares a decrease of 19.0% from 03/31/2017 to 06/30/2017. Spark Investment Management LLC now holds 3,400 shares with a value of $216,000. The value of the position overall is down by 15.3%. As of the end of the quarter Zpr Investment Management had acquired 933 shares growing its position 24.0%. The value of the company’s investment in Century Bancorp, Inc. went from $233,000 to $306,000 increasing 31.3% quarter over quarter.

New England Research & Management, Inc. divested its investment by shedding 333 shares a decrease of 7.1% as of 06/30/2017. New England Research & Management, Inc. owns 4,376 shares worth $278,000. The total value of its holdings decreased 2.8%. As of quarter end Ubs Group Ag had bought a total of 12,723 shares growing its holdings by 16,523.4%. The value in dollars increased from $5,000 to $814,000 a change of $809,000 for the reporting period.

The company is down by 0.74%% since yesterday’s close of 87.7. Additionally the company recently announced a dividend paid on Tuesday the 15th of August 2017. The dividend was $0.120 per share for the quarter or $0.48 annualized. The dividend yield was $0.58. The ex-dividend date was set for Friday the 28th of July 2017.

Shares of the company are trading at $87.05 well above $72.88, the stock’s 50 day moving average and quite a bit above the 200 day moving average of $65.96. The 50 day moving average was up by +19.45% whereas the 200 day moving average was up $21.09 or +31.98%.

The P/E ratio is currently 17.79 and market cap is 484.61M. Traders are more bullish on the company if you take note of the downtick in short interest. The firm saw a fall in short interest from August 31, 2017 to September 15, 2017 of -8.72%. Short interest fell 2,255 over that timeframe. The short-interest ratio increased to 3.0 and the percentage of shorted shares is 0.00% as of September 15.