Canadian Banc (TSE:BK) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

Canadian Banc Corp. (TSE:BK) shares crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$14.02 and traded as high as C$14.80. Canadian Banc shares last traded at C$14.75, with a volume of 66,105 shares.

Canadian Banc Trading Up 0.8%

The company has a debt-to-equity ratio of 69.49, a current ratio of 2.47 and a quick ratio of 2.23. The company has a market cap of C$722.85 million, a price-to-earnings ratio of 3.18 and a beta of 1.13. The business’s 50-day simple moving average is C$14.02 and its 200-day simple moving average is C$14.21.

Canadian Banc Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, May 8th will be given a dividend of $0.1675 per share. The ex-dividend date is Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 13.6%. Canadian Banc’s payout ratio is presently 33.61%.

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.