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

Shares of Canadian Banc Corp. (TSE:BK) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$11.56 and last traded at C$11.47, with a volume of 115136 shares trading hands. The stock had previously closed at C$11.48.

Canadian Banc Price Performance

The stock has a market capitalization of C$347.79 million, a P/E ratio of 4.94 and a beta of 1.22. The business has a fifty day simple moving average of C$11.21 and a 200 day simple moving average of C$11.02. The company has a current ratio of 1.98, a quick ratio of 2.23 and a debt-to-equity ratio of 98.31.

Canadian Banc Increases Dividend

The business also recently announced a monthly dividend, which was paid on Friday, August 9th. Investors of record on Friday, August 9th were given a dividend of $0.1359 per share. This is a boost from Canadian Banc’s previous monthly dividend of $0.14. The ex-dividend date of this dividend was Wednesday, July 31st. This represents a $1.63 annualized dividend and a dividend yield of 14.16%. Canadian Banc’s payout ratio is presently 71.67%.

About Canadian Banc

Canadian Banc Corp. is a close-ended equity mutual fund launched by Quadravest Inc The fund is managed by Quadravest Capital Management Inc It invests in the public equity markets of Canada. The fund invests in stocks of companies engaged in the banking sector. It benchmarks the performance of its portfolio against the S&P TSX Financial Index.