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

Canadian Banc Corp. (TSE:BK)’s stock price passed 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 Performance

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 company has a market capitalization of C$789.75 million, a PE ratio of 3.47 and a beta of 1.13. The firm’s fifty day simple moving average is C$14.59 and its 200 day simple moving average is C$14.40.

Canadian Banc Increases Dividend

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

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.