Quantcast

First Republic Bank's Series F Preferred Stock Shares Cross 5.5% Yield Mark


Shutterstock photo

In trading on Monday, shares of First Republic Bank's 5.70% Noncumulative Perpetual Series F Preferred Stock (Symbol: FRC.PRF) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.425), with shares changing hands as low as $25.89 on the day. This compares to an average yield of 5.33% in the "Financial" preferred stock category, according to Preferred Stock Channel . As of last close, FRC.PRF was trading at a 5.00% premium to its liquidation preference amount, versus the average premium of 5.58% in the "Financial" category. Investors should keep in mind that the shares are not cumulative , meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

The chart below shows the one year performance of FRC.PRF shares, versus FRC:

Performance Comparison Chart

Below is a dividend history chart for FRC.PRF, showing historical dividend payments on First Republic Bank's 5.70% Noncumulative Perpetual Series F Preferred Stock:

FRC.PRF+Dividend+History+Chart

In Monday trading, First Republic Bank's 5.70% Noncumulative Perpetual Series F Preferred Stock (Symbol: FRC.PRF) is currently down about 0.3% on the day, while the common shares (Symbol: FRC) are up about 1.4%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Investing Ideas
Referenced Symbols: FRC.PRF , FRC


More from BNK Invest

Subscribe






BNK Invest
Contributor:

BNK Invest

Market News, Investing








Research Brokers before you trade

Want to trade FX?