Canadian Banc (TSE:BK) Shares Cross Above 50-Day Moving Average – Should You Sell?

Shares of Canadian Banc Corp. (TSE:BK) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$14.77 and traded as high as C$15.30. Canadian Banc shares last traded at C$15.24, with a volume of 311,481 shares traded.

Canadian Banc Stock Performance

The stock’s 50-day moving average price is C$14.77 and its 200 day moving average price is C$14.44. 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 firm has a market cap of C$821.56 million, a P/E ratio of 3.61 and a beta of 1.29.

Canadian Banc Increases Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, June 10th were given a $0.169 dividend. This is a boost from Canadian Banc’s previous monthly dividend of $0.17. This represents a c) dividend on an annualized basis and a dividend yield of 13.3%. The ex-dividend date of this dividend was Friday, May 29th. Canadian Banc’s payout ratio is presently 33.61%.

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.