Big Banc Split Corp T.BNK

Alternate Symbol(s): T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.

TSX:BNK - Post by User

Big Banc Split Corp

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Comment by rehsifylfon Mar 26, 2009 9:40am

467 Views

Post# 15872297

RE: Nice run thru $2.00

If you looked at this 3 month chart

You would say BNK has had a nice controlled run since Mid Jan and may stop soon.

But if you look at this chart

You might say that it is only about half way back. Since September, there have been two short term issues that have affected the stock - the economy (which always has and always will cycle) and related to that the price of Oil 9which always has and always wil cycle). Tough to say how long the first cycle will last. We are probably expereiencing an early spring but winter isn't over yet, IMO. In any event, the economy will grow again - and it is going to gorw at an unprecedented world pace. Since September, this company has had nothing but good news on reserves, operations, and financing.

While it is nice to see the stock rise, I'm not really concerned about it breaking $2 or even if it goes back to $1 in the near term. My price target is $20 and my time horizon is 4-6 years. They should be able to produce 50K bbl per day at that point, with net earnings of $3-$5 per share, depending on how many more units they issue.