What’s in Century Bancorp, Inc. (CNBKA) After Forming Multiple Bottom Pattern?

July 14, 2018 - By Robert Crowder

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 dived, 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.
Delphi Mgmt Inc Ma reported 2,812 shares. Tiaa Cref Investment Management Llc accumulated 8,394 shares or 0% of the stock. Bridgeway Mngmt reported 29,500 shares or 0.03% of all its holdings. Boston Prns accumulated 0.01% or 72,023 shares. Heartland Advisors has invested 0.37% of its portfolio in Century Bancorp, Inc. (NASDAQ:CNBKA). Moreover, Northern Tru has 0% invested in Century Bancorp, Inc. (NASDAQ:CNBKA). New England Rech & Mngmt owns 4,074 shares or 0.22% of their US portfolio. 36,520 are owned by Natl Bank Of Mellon. 5,462 are held by Wells Fargo Company Mn. Ameritas Investment Inc accumulated 277 shares. 11,333 were accumulated by Menta Capital Llc. Bnp Paribas Arbitrage Sa reported 0% in Century Bancorp, Inc. (NASDAQ:CNBKA). Mackay Shields Ltd Liability has invested 0% in Century Bancorp, Inc. (NASDAQ:CNBKA). Axa, a France-based fund reported 5,113 shares. Lsv Asset Management holds 0% of its portfolio in Century Bancorp, Inc. (NASDAQ:CNBKA) for 34,664 shares.

Since January 16, 2018, it had 64 insider buys, and 0 insider sales for $2.05 million activity. The insider SLOANE BARRY R bought $663. Filler James J bought 499 shares worth $38,716. Delinsky Stephen R bought $79 worth of stock or 1 shares. 85 shares valued at $6,663 were bought by WESTLING JON on Friday, February 16. The insider Feeney Brian J. bought $157. Kay Linda Sloane bought 16 shares worth $1,261.

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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