Canadian Banc (TSE:BK) Stock Price Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Canadian Banc Corp.'s stock price recently crossed above its 50-day moving average of C$13.62, reaching a high of C$13.97 during trading.
• The firm announced a dividend of $0.164 per share on September 25, which was paid on October 10, with a dividend payout ratio of 49.43%.
• Canadian Banc has a market capitalization of C$584.88 million and a price-to-earnings ratio of 4.44.

Canadian Banc Corp. (TSE:BK - )'s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$13.62 and traded as high as C$13.97. Canadian Banc shares last traded at C$13.94, with a volume of 229,863 shares traded.

Canadian Banc Stock Performance

The company has a debt-to-equity ratio of 98.31, a quick ratio of 2.23 and a current ratio of 1.98. The firm's 50-day moving average price is C$13.62 and its two-hundred day moving average price is C$12.37. The firm has a market capitalization of C$584.88 million, a price-to-earnings ratio of 4.44 and a beta of 1.04.

Canadian Banc Announces Dividend

The firm also recently announced 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 dividend payout ratio (DPR) is currently 49.43%.

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.

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