On 3/15/18, First Republic Bank's 7.00% Noncumulative Perpetual Series E Preferred Stock (Symbol: FRC.PRE) will trade ex-dividend, for its quarterly dividend of $0.4375, payable on 3/29/18. As a percentage of FRC.PRE's recent share price of $26.37, this dividend works out to approximately 1.66%, so look for shares of FRC.PRE to trade 1.66% lower - all else being equal - when FRC.PRE shares open for trading on 3/15/18. On an annualized basis, the current yield is approximately 6.64%, which compares to an average yield of 5.62% in the "Financial" preferred stock category, according to Preferred Stock Channel . The chart below shows the one year performance of FRC.PRE shares, versus FRC:
Below is a dividend history chart for FRC.PRE, showing historical dividends prior to the most recent $0.4375 on First Republic Bank's 7.00% Noncumulative Perpetual Series E Preferred Stock:
According to the ETF Finder at ETF Channel, First Republic Bank (Symbol: FRC) makes up 2.52% of the iShares U.S. Regional Banks ETF ( IAT ) which is trading lower by about 0.4% on the day Tuesday.
In Tuesday trading, First Republic Bank's 7.00% Noncumulative Perpetual Series E Preferred Stock (Symbol: FRC.PRE) is currently up about 0.1% on the day, while the common shares (Symbol: FRC) are off about 1.1%.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
