Life & Banc Split (TSE:LBS) Stock Price Up 2.1% – Here’s Why

Life & Banc Split Corp. (TSE:LBS)’s share price traded up 2.1% on Wednesday . The company traded as high as C$8.79 and last traded at C$8.77. Approximately 342,058 shares traded hands during mid-day trading, an increase of 366% from the average session volume of 73,452 shares. The stock had previously closed at C$8.59.

Life & Banc Split Stock Performance

The stock has a 50-day simple moving average of C$8.35 and a 200-day simple moving average of C$7.90. The stock has a market cap of C$400.61 million, a PE ratio of 16.87 and a beta of 1.83. The company has a debt-to-equity ratio of 147.51, a current ratio of 1.66 and a quick ratio of 1.69.

Life & Banc Split Dividend Announcement

The firm also recently announced a monthly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 16th were given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a yield of 13.68%. The ex-dividend date was Friday, August 30th. Life & Banc Split’s dividend payout ratio (DPR) is presently 230.77%.

Insider Buying and Selling at Life & Banc Split

In related news, Senior Officer Laura Wing-Sze Lau sold 4,900 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of C$10.62, for a total transaction of C$52,038.00.

About Life & Banc Split

Life & Banc Split Corp. is a closed-ended equity mutual fund launched and managed by Brompton Funds Limited. The fund invests in the public equity markets of Canada. It seeks to invest in stocks of companies operating across banking and life insurance sector. The fund primarily invests in the stocks of the six largest banks of the country, as well as of life insurance companies, utilizing a split share structure on a low cost basis.