Canadian Banc (TSE:BK) Shares Pass Above 50 Day Moving Average – What’s Next?

Canadian Banc Corp. (TSE:BK)’s share price passed above its 50-day moving average during trading on Thursday . The stock has a 50-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.

Canadian Banc Stock Performance

The company has a market cap of C$587.82 million, a P/E ratio of 4.47 and a beta of 1.04. The business’s 50 day simple moving average is C$13.95 and its 200 day simple moving average is C$12.84. 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 Dividend Announcement

The company also recently disclosed 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 payout ratio is 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.