Canadian Banc (TSE:BK) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Canadian Banc Corp. (TSE:BK) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$13.78 and traded as high as C$13.87. Canadian Banc shares last traded at C$13.80, with a volume of 81,392 shares changing hands.

Canadian Banc Stock Down 0.5%

The company has a debt-to-equity ratio of 98.31, a quick ratio of 2.23 and a current ratio of 1.98. The company has a market capitalization of C$579.01 million, a price-to-earnings ratio of 4.40 and a beta of 1.04. The stock’s fifty day simple moving average is C$13.78 and its two-hundred day simple moving average is C$12.57.

Canadian Banc Dividend Announcement

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

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.