Canadian Banc (TSE:BK) Share Price Passes Above Fifty Day Moving Average – Time to Sell?

Canadian Banc Corp. (TSE:BK) shares passed 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 traded.

Canadian Banc Price Performance

The firm’s 50-day moving average is C$11.07 and its two-hundred day moving average is C$11.42. 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 has a market cap of C$400.37 million, a P/E ratio of 5.62 and a beta of 1.22.

Canadian Banc Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, June 10th will be issued a dividend of $0.137 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.64 annualized dividend and a yield of 14.11%. Canadian Banc’s payout ratio is 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.