Is Century Bancorp, Inc. (CNBKA)’s Fuel Running Low? The Stock Formed Multiple Bottom

July 14, 2018 - By Vernon Rice

Century Bancorp, Inc. (NASDAQ:CNBKA) Logo

Investors sentiment decreased to 0.97 in 2018 Q1. Its down 0.26, from 1.23 in 2017Q4. It turned negative, as 4 investors sold Century Bancorp, Inc. shares while 28 reduced holdings. 8 funds opened positions while 23 raised stakes. 1.91 million shares or 1.37% less from 1.94 million shares in 2017Q4 were reported.
Wells Fargo And Communication Mn invested in 5,462 shares or 0% of the stock. Meeder Asset Mngmt Inc reported 172 shares. Daniel Devine & has invested 0.73% in Century Bancorp, Inc. (NASDAQ:CNBKA). Banc Funds Communications Lc has 0.3% invested in Century Bancorp, Inc. (NASDAQ:CNBKA). Panagora Asset Mgmt has 0.01% invested in Century Bancorp, Inc. (NASDAQ:CNBKA) for 23,556 shares. Ajo Ltd Partnership reported 0.02% in Century Bancorp, Inc. (NASDAQ:CNBKA). Boston has 0.01% invested in Century Bancorp, Inc. (NASDAQ:CNBKA). Renaissance Technologies Ltd Liability Company has 0.01% invested in Century Bancorp, Inc. (NASDAQ:CNBKA). Ny State Common Retirement Fund holds 0% or 9,585 shares in its portfolio. Invesco Limited accumulated 0% or 25,594 shares. Heartland Advsr Inc holds 0.37% or 70,000 shares in its portfolio. Int Grp holds 1,870 shares or 0% of its portfolio. The Massachusetts-based Geode Cap Mngmt Limited Liability Corp has invested 0% in Century Bancorp, Inc. (NASDAQ:CNBKA). State Street reported 54,576 shares. Schwab Charles Investment Management Inc owns 16,565 shares.

Since January 16, 2018, it had 64 buys, and 0 selling transactions for $2.05 million activity. On Friday, February 16 the insider EVANGELISTA PAUL A bought $235. Delinsky Stephen R also bought $79 worth of Century Bancorp, Inc. (NASDAQ:CNBKA) on Thursday, May 17. On Monday, May 7 SLOANE BARRY R bought $677 worth of Century Bancorp, Inc. (NASDAQ:CNBKA) or 5 shares. Shares for $1,197 were bought by WESTLING JON. Feeney Brian J. had bought 2 shares worth $157 on Friday, February 16. $1,261 worth of stock was bought by Kay Linda Sloane on Tuesday, February 20.

The stock of Century Bancorp, Inc. (CNBKA) shows a multiple bottoms pattern with $74.81 target or 5.00 % below today’s $78.75 share price. The 9 months chart pattern indicates high risk for the $284.13 million company. It was reported on Jul, 14 by Finviz.com. If the $74.81 price target is reached, the company will be worth $14.21 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.90% or $0.7 during the last trading session, reaching $78.75. About 12,280 shares traded or 167.71% up from the average. Century Bancorp, Inc. (NASDAQ:CNBKA) has risen 31.70% since July 14, 2017 and is uptrending. It has outperformed by 19.13% the S&P500.

More news for Century Bancorp, Inc. (NASDAQ:CNBKA) were recently published by: Businesswire.com, which released: “Century Bancorp, Inc. Announces Record Earnings for the First Six Months of 2018, up 17.2%; Asset Growth to Record …” on July 10, 2018. Streetinsider.com‘s article titled: “Century Bancorp, Inc.” and published on July 11, 2018 is yet another important article.

Century Bancorp, Inc. operates as a bank holding firm for Century Bank and Trust Company that provides banking services and products. The company has market cap of $284.13 million. It accepts savings accounts, NOW accounts, demand deposits, time deposits, and money market accounts, as well as cash management accounts. It has a 18.34 P/E ratio. The firm 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.

Century Bancorp, Inc. (NASDAQ:CNBKA) Institutional Positions Chart

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