Canadian Banc (TSE:BK) Hits New 12-Month High – Should You Buy?

Canadian Banc Corp. (TSE:BK)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as C$14.83 and last traded at C$14.80, with a volume of 110718 shares traded. The stock had previously closed at C$14.53.

Canadian Banc Stock Up 1.9%

The firm has a market capitalization of C$797.84 million, a price-to-earnings ratio of 3.19 and a beta of 1.13. The stock has a 50 day moving average of C$14.25 and a 200 day moving average of C$14.31. The company has a quick ratio of 2.23, a current ratio of 2.47 and a debt-to-equity ratio of 69.49.

Canadian Banc Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 8th. Investors of record on Friday, May 8th were paid a $0.1675 dividend. This represents a c) dividend on an annualized basis and a yield of 13.6%. The ex-dividend date was Thursday, April 30th. Canadian Banc’s dividend payout ratio (DPR) is 33.61%.

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.