Life & Banc Split (TSE:LBS) Reaches New 1-Year High – Here’s Why

Life & Banc Split Corp. (TSE:LBS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$8.86 and last traded at C$8.83, with a volume of 91177 shares traded. The stock had previously closed at C$8.72.

Life & Banc Split Price Performance

The company has a debt-to-equity ratio of 147.51, a quick ratio of 1.69 and a current ratio of 1.66. The company has a market cap of C$405.18 million, a price-to-earnings ratio of 17.04 and a beta of 1.83. The company has a 50-day simple moving average of C$8.09 and a 200-day simple moving average of C$7.84.

Life & Banc Split Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 16th were given a $0.10 dividend. This represents a $1.20 annualized dividend and a yield of 13.53%. The ex-dividend date was Friday, August 30th. Life & Banc Split’s payout ratio is 230.77%.

Insiders Place Their Bets

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

Life & Banc Split Company Profile

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.