Canadian Banc (TSE:BK) Stock Price Crosses Above Fifty Day Moving Average - Should You Sell?

Key Points

• Shares of Canadian Banc Corp. crossed above its 50-day moving average of C$12.11, reaching a high of C$12.55 during trading.
• The company recently announced an increase in its monthly dividend to $0.1507, which yields 14.5%, payable on August 8th.
• Canadian Banc has a market cap of C$428.21 million and a price-to-earnings ratio of 6.01, indicating strong financial positioning.

Shares of Canadian Banc Corp. (TSE:BK - ) crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$12.11 and traded as high as C$12.55. Canadian Banc shares last traded at C$12.46, with a volume of 85,133 shares.

Canadian Banc Stock Up 0.5%

The company has a current ratio of 1.98, a quick ratio of 2.23 and a debt-to-equity ratio of 98.31. The firm's 50 day simple moving average is C$12.11 and its two-hundred day simple moving average is C$11.54. The firm has a market cap of C$428.21 million, a price-to-earnings ratio of 6.01 and a beta of 1.22.

Canadian Banc Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, August 8th will be given a $0.1507 dividend. This represents a c) annualized dividend and a dividend yield of 14.5%. The ex-dividend date is Thursday, July 31st. This is a boost from Canadian Banc's previous monthly dividend of $0.15. Canadian Banc's dividend payout ratio is presently 80.61%.

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.

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