Canadian Banc (TSE:BK) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Shares of Canadian Banc Corp. (TSE:BK) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$14.48 and traded as high as C$14.69. Canadian Banc shares last traded at C$14.64, with a volume of 284,144 shares changing hands.

Canadian Banc Stock Performance

The company has a market cap of C$696.88 million, a P/E ratio of 4.99 and a beta of 1.18. The business has a 50 day moving average price of C$14.46 and a two-hundred day moving average price of C$14.06. The company has a debt-to-equity ratio of 98.31, a quick ratio of 2.23 and a current ratio of 1.98.

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.