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

Canadian Banc Corp. (TSE:BK - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$11.00 and traded as high as C$11.83. Canadian Banc shares last traded at C$11.74, with a volume of 151,208 shares traded.

Canadian Banc Trading Up 0.3%

The company has a 50 day moving average of C$11.02 and a 200 day moving average of C$11.42. The firm has a market cap of C$400.71 million, a price-to-earnings ratio of 5.63 and a beta of 1.22. The company has a current ratio of 1.98, a quick ratio of 2.23 and a debt-to-equity ratio of 98.31.

Canadian Banc Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.137 per share. This represents a $1.64 annualized dividend and a dividend yield of 14.10%. The ex-dividend date of this dividend is Friday, May 30th. Canadian Banc's 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.