Century Bancorp, Inc. (NASDAQ:CNBKA) Traded Significantly Above Its 50 Day Moving Average


Company shares are trading at $85.40 which is impressively higher than the 50 day moving average of $77.02 and significantly higher than the 200 day moving average of $67.43. The 50 day moving average went up by +10.88% and the 200 day average was up $17.97. 13K shares changed hands by the end of trading on Tuesday. Overall, volume was up 92.73% over the stocks normal daily volume.

Traders are feeling more bullish on the company recently if you evaluate the motion in short interest. The stock saw a fall in short interest of -22.55% as of September 29, 2017 from the last reporting period. Short shares fell 5,324 over that timeframe. The days to cover decreased to 1.0 and the percentage of shorted shares was 0.00% on September 29.

There has been some selling insider activity on Century Bancorp, Inc. (NASDAQ:CNBKA) recently. Paul A. Evangelista, EVP reported the sale of 0 shares of (CNBKA). The shares were sold on October 10th for an average price of $147.25. The EVP now owns $290,308 of the stock per the Form 4 SEC filing. Barry R. Sloane, CEO disclosed the sale of 0 shares of CNBKA stock. The shares were purchased at an average price of $147.25. Sloane now owns $224,812 of the stock according to the SEC filing.

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.

These funds have shifted positions in (CNBKA). New England Research & Management, Inc. downsized its position by selling 333 shares a decrease of 7.1% as of 06/30/2017. New England Research & Management, Inc. now holds 4,376 shares worth $278,000. The value of the position overall is down by 2.8%. Ubs Group Ag bolstered its holdings by buying 12,723 shares an increase of 16,523.4%. Ubs Group Ag now controls 12,800 shares with a value of $814,000. The total value of its holdings increased 16,180.0%.

Acadian Asset Management LLC reduced its ownership by shedding 1,615 shares a decrease of 10.7% in the quarter. Acadian Asset Management LLC owns 13,521 shares valued at $1,083,000. The total value of its holdings increased 12.7%. As of quarter end Denali Advisors LLC had sold a total of 11 shares trimming its stake by 13.4%. The value of the investment in (CNBKA) increased from $5,000 to $6,000 increasing 20.0% for the reporting period.

The company is trading up since yesterday’s close of 85.15. Additionally Century Bancorp, Inc. declared a dividend to be paid on Wednesday November 15th, 2017. The dividend will be $0.120 per share for the quarter or $0.48 on an annualized basis. The dividend yield will be $0.58. The ex-dividend date will be on Friday July 28th, 2017.

Century Bancorp, Inc. currently has a P/E ratio of 17.46 and the market cap is 475.42M.

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..