Canadian Banc (TSE:BK) Stock Crosses Above 50-Day Moving Average of $13.35

Canadian Banc Corp. (TSE:BKGet Rating) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$13.35 and traded as high as C$13.43. Canadian Banc shares last traded at C$13.22, with a volume of 43,222 shares trading hands.

Canadian Banc Price Performance

The stock has a market cap of C$164.16 million and a P/E ratio of 13.55. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 78.83. The company has a 50 day simple moving average of C$13.35 and a 200 day simple moving average of C$13.93.

Canadian Banc Increases Dividend

The business also recently disclosed a monthly dividend, which was paid on Friday, September 9th. Stockholders of record on Friday, September 9th were paid a dividend of $0.1656 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.99 dividend on an annualized basis and a dividend yield of 15.36%. This is a boost from Canadian Banc’s previous monthly dividend of $0.16. Canadian Banc’s dividend payout ratio is currently 179.88%.

About Canadian Banc

(Get Rating)

Canadian Banc Corp. is a close-ended equity mutual fund launched by Quadravest Inc The fund is managed by Quadravest Capital Management Inc It invests in the public equity markets of Canada. The fund invests in stocks of companies engaged in the banking sector. It benchmarks the performance of its portfolio against the S&P TSX Financial Index.

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