Canadian Banc (TSE:BK) Share Price Passes Below 50-Day Moving Average – What’s Next?

Canadian Banc Corp. (TSE:BK) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$14.31 and traded as low as C$13.29. Canadian Banc shares last traded at C$13.65, with a volume of 264,335 shares changing hands.

Canadian Banc Trading Up 4.8%

The company has a debt-to-equity ratio of 69.49, a quick ratio of 2.23 and a current ratio of 2.47. The firm has a market capitalization of C$668.95 million, a price-to-earnings ratio of 4.79 and a beta of 1.10. The company has a 50 day moving average price of C$14.31 and a two-hundred day moving average price of C$14.12.

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.