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

Canadian Banc Corp. (TSE:BK) shares crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$14.59 and traded as high as C$14.82. Canadian Banc shares last traded at C$14.65, with a volume of 98,274 shares changing hands.

Canadian Banc Stock Down 0.7%

The stock has a market capitalization of C$789.75 million, a PE ratio of 3.47 and a beta of 1.13. 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 business’s fifty day moving average price is C$14.59 and its two-hundred day moving average price is C$14.40.

Canadian Banc Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Wednesday, June 10th will be issued a $0.169 dividend. The ex-dividend date of this dividend is Friday, May 29th. This is a positive change from Canadian Banc’s previous monthly dividend of $0.17. This represents a c) annualized dividend and a yield of 13.8%. Canadian Banc’s dividend payout ratio is currently 33.61%.

Canadian Banc Company Profile

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.