First Republic Bank's Series D Preferred Stock Yield Pushes Past 5.5%

First Republic Bank's Series D Preferred Stock Yield Pushes Past 5.5%


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In trading on Thursday, shares of First Republic Bank’s 5.50% Noncumulative Perpetual Series D Preferred Stock (Symbol: FRC.PRD) were yielding above the 5.5% mark based on its quarterly dividend (annualized to $1.375), with shares changing hands as low as $24.98 on the day. This compares to an average yield of 5.64% in the “Financial” preferred stock category, according to Preferred Stock Channel . As of last close, FRC.PRD was trading at a 0.40% premium to its liquidation preference amount, versus the average premium of 4.96% 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.PRD shares, versus FRC: Performance Comparison Chart

Below is a dividend history chart for FRC.PRD, showing historical dividend payments on First Republic Bank’s 5.50% Noncumulative Perpetual Series D Preferred Stock: FRC.PRD+Dividend+History+Chart In Thursday trading, First Republic Bank’s 5.50% Noncumulative Perpetual Series D Preferred Stock (Symbol: FRC.PRD) is currently down about 0.5% on the day, while the common shares (Symbol: FRC) are off about 1.9%.

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


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