Banc Of California's Preferred Stock, Series C Shares Cross 7.5% Yield Mark

In trading on Thursday, shares of Banc of California Inc's 8.00% Non-Cumulative Perpetual Preferred Stock, Series C ( BANC.PRC) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $2.00), with shares changing hands as low as $26.60 on the day. This compares to an average yield of 5.66% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BANC.PRC was trading at a 8.56% premium to its liquidation preference amount, versus the average premium of 2.35% 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 BANC.PRC shares, versus BANC:

Performance Comparison Chart

Below is a dividend history chart for BANC.PRC, showing historical dividend payments on Banc of California Inc's 8.00% Non-Cumulative Perpetual Preferred Stock, Series C:

BANC.PRC+Dividend+History+Chart

In Thursday trading, Banc of California Inc's 8.00% Non-Cumulative Perpetual Preferred Stock, Series C ( BANC.PRC) is currently down about 0.1% on the day, while the common shares ( BANC) are off about 2.1%.

If you liked this article you might like

Looking to Buy Hot Bank Stocks? Don't Ignore Corporate Governance

Looking to Buy Hot Bank Stocks? Don't Ignore Corporate Governance

Looking to Buy Bank Stocks? Don't Ignore Governance

Looking to Buy Bank Stocks? Don't Ignore Governance

Banc of California's Slump Shows Activism Ain't Always Great

Banc of California's Slump Shows Activism Ain't Always Great

Banc of California's Slump Shows Activism Ain't All It's Cracked Up to Be

Banc of California's Slump Shows Activism Ain't All It's Cracked Up to Be

Community Banks Could Be Big Winners in Treasury Regulation Overhaul

Community Banks Could Be Big Winners in Treasury Regulation Overhaul