Canadian Banc (TSE:BK) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

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

Canadian Banc Stock Up 4.8%

The firm has a market cap of C$668.95 million, a price-to-earnings ratio of 4.79 and a beta of 1.10. The business has a fifty day simple moving average of C$14.31 and a 200 day simple moving average of C$14.12. The company has a debt-to-equity ratio of 69.49, a current ratio of 2.47 and a quick ratio of 2.23.

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.