Canadian Banc (TSE:BK) Stock Price Passes Above 50-Day Moving Average – Here’s What Happened

Canadian Banc Corp. (TSE:BK)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$13.95 and traded as high as C$14.05. Canadian Banc shares last traded at C$13.91, with a volume of 157,134 shares trading hands.

Canadian Banc Stock Down 0.6%

The stock’s 50-day moving average is C$13.95 and its 200-day moving average is C$12.80. The company has a market cap of C$583.62 million, a price-to-earnings ratio of 4.44 and a beta of 1.04. The company has a current ratio of 1.98, a quick ratio of 2.23 and a debt-to-equity ratio of 98.31.

Canadian Banc Announces Dividend

The company also recently declared a sep 25 dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were paid a dividend of $0.164 per share. Canadian Banc’s dividend payout ratio (DPR) is currently 49.43%.

About Canadian Banc

The Companys investment objectives are (i) to provide holders of Preferred Shares with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the Prime Rate plus 0.75%, with a minimum annual rate of 5.0% and a maximum annual rate of 7.0% (ii) to provide holders of Class A Shares with regular floating rate monthly cash distributions targeted to be at a rate per annum equal to the Prime Rate plus 2.0%, with a minimum targeted annual rate of 5.0% and a maximum targeted annual rate of 10.0% and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012.