Canadian Banc (TSE:BK) Share Price Crosses Above 50-Day Moving Average - Time to Sell?

Canadian Banc Corp. (TSE:BK - Get Free Report) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of C$11.05 and traded as high as C$11.70. Canadian Banc shares last traded at C$11.65, with a volume of 43,815 shares changing hands.

Canadian Banc Price Performance

The company has a debt-to-equity ratio of 98.31, a current ratio of 1.98 and a quick ratio of 2.23. The company's 50 day moving average price is C$11.07 and its 200 day moving average price is C$11.42. The firm has a market capitalization of C$400.37 million, a P/E ratio of 5.62 and a beta of 1.22.

Canadian Banc Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.137 per share. The ex-dividend date is Friday, May 30th. This represents a $1.64 annualized dividend and a dividend yield of 14.11%. Canadian Banc's dividend payout ratio (DPR) is currently 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.