Insider Trading Report: Century Bancorp (CNBKA)

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  • James Filler, a major owner at Century Bancorp (CNBKA), recently added 1,509 shares to his holdings. The buy came to just over $118,000, and increased his total holdings by 0.18 percent.

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  • This follows off a few smaller buys from company officers since the start of the year. Filler was a heavy buyer in 2020 as well. Overall, insiders are steady buyers, and also own over 27 percent of shares.

    Shares of the small-cap bank are still down about 12 percent over the past year. In that same timeframe, the bank grew its earnings and revenues by high single-digit levels. More importantly, the bank has a fantastic 35 percent profit margin.

    While many traders are concerned about bank profits with interest rates so low, there’s currently a steep yield curve. That means that banks can borrow at zero percent and make a steeply positive return on longer-dated loans. It bodes well for bank shares, even with any short-term fears.

    Action to take: Shares are an attractive buy here, even though the current dividend yield on shares is just under 1 percent. The continual insider buying and relative valuation should lead to solid returns in shares in the coming months.

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  • There are no options to trade on shares, but their gradual rally higher over the past few months looks like a place for steady and consistent returns in the months ahead.