Maltese Capital Management LLC lowered its position in shares of Century Bancorp, Inc. (NASDAQ:CNBKA) by 40.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,000 shares of the bank’s stock after selling 109,940 shares during the quarter. Century Bancorp makes up approximately 1.1% of Maltese Capital Management LLC’s holdings, making the stock its 24th biggest holding. Maltese Capital Management LLC owned approximately 2.87% of Century Bancorp worth $12,816,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new stake in Century Bancorp in the 2nd quarter valued at about $209,000. The Manufacturers Life Insurance Company increased its position in Century Bancorp by 1,300.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,922 shares of the bank’s stock valued at $249,000 after acquiring an additional 3,642 shares in the last quarter. ClariVest Asset Management LLC increased its position in Century Bancorp by 31.0% in the 2nd quarter. ClariVest Asset Management LLC now owns 4,054 shares of the bank’s stock valued at $258,000 after acquiring an additional 960 shares in the last quarter. Wells Fargo & Company MN increased its position in Century Bancorp by 54.2% in the 3rd quarter. Wells Fargo & Company MN now owns 3,540 shares of the bank’s stock valued at $283,000 after acquiring an additional 1,244 shares in the last quarter. Finally, ZPR Investment Management increased its position in Century Bancorp by 2.7% in the 2nd quarter. ZPR Investment Management now owns 4,815 shares of the bank’s stock valued at $306,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 36.50% of the company’s stock.
In other Century Bancorp news, major shareholder James J. Filler purchased 3,471 shares of the stock in a transaction dated Tuesday, November 14th. The stock was bought at an average price of $83.72 per share, for a total transaction of $290,592.12. Following the transaction, the insider now directly owns 587,955 shares in the company, valued at $49,223,592.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder James J. Filler purchased 793 shares of the stock in a transaction dated Friday, September 29th. The shares were acquired at an average price of $77.42 per share, with a total value of $61,394.06. Following the transaction, the insider now owns 579,978 shares in the company, valued at $44,901,896.76. The disclosure for this purchase can be found here. Insiders acquired a total of 22,139 shares of company stock valued at $1,841,587 in the last 90 days. Corporate insiders own 36.91% of the company’s stock.
Century Bancorp (NASDAQ:CNBKA) last posted its quarterly earnings data on Tuesday, October 10th. The bank reported $1.44 earnings per share for the quarter. The firm had revenue of $25.30 million during the quarter. Century Bancorp had a net margin of 23.11% and a return on equity of 11.47%.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.57%. The ex-dividend date was Tuesday, October 31st. Century Bancorp’s payout ratio is presently 9.28%.
Separately, ValuEngine cut shares of Century Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
Century Bancorp Profile
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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