 Shares of Century Bancorp Inc NASDAQ:CNBKA fell by 0.7 from the previous closing price. A Form 4 filing filed with the SEC on Thursday, July 23 showed that Filler James J bought 600 shares at 77.49 on Thursday, Jul 16, bought 200 shares at 76.16 on Friday, Jul 17, bought 106 shares at 76.95 on Monday, Jul 20, bought 413 shares at 77.91 on Tuesday, Jul 21, and bought 100 shares at 76.75 on Wednesday, Jul 22.The transaction moved the executives stake in Century Bancorp Inc. to 827,105 shares.The Importance of Insider Transactions While transactions from an insider shouldnt be used as the sole item to make an investment or trading decision, an insider buying or selling stock in their company can be a good added factor that leads to more conviction in a decision.Insiders buying stock after a notable sell off can indicate an insiders long-term belief in the success of the company; insiders buying stock at new highs can be an indication the exec doesnt feel the stock is overvalued. Conversely, insiders who are selling stock at new lows can potentially indicate some kind of capitulation moment. Insiders selling at new highs can indicate that exec wants to take some profit and lock in a gain.Important Transaction Codes Investors prefer focusing on transactions which take place in the open market, indicated in the Form 4 with codes P for purchase and S for sale. If the transaction was an open-market transaction, that means that the insider made a concious decision for the companys stock moving forward.Transaction codes other than P or S are often viewed with less conviction as they are often not tied to a decision by the exec. As an example, transaction code C indicates the conversion of an option. Transaction code A indicates the insider may have been forced to sell shares in order to receive compensation the exec was promised upon being hired by a company.See more from Benzinga Looking Into Twitters Return On Capital Employed Looking Into Southwest Airliness Return On Capital Employed Stocks That Hit 52-Week Lows On ThursdayC 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. 