Canadian Banc (TSE:BK) Stock Price Crosses Above 50 Day Moving Average – What’s Next?

Canadian Banc Corp. (TSE:BK) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of C$13.98 and traded as high as C$14.95. Canadian Banc shares last traded at C$14.92, with a volume of 201,764 shares.

Canadian Banc Trading Up 0.3%

The company has a debt-to-equity ratio of 69.49, a current ratio of 2.47 and a quick ratio of 2.23. The firm’s 50 day moving average is C$13.98 and its 200 day moving average is C$14.17. The company has a market capitalization of C$731.18 million, a PE ratio of 3.21 and a beta of 1.07.

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.