First Republic Bank's Noncumulative Perpetual Series C Preferred Stock Shares Cross 6% Yield Mark

In trading on Wednesday, shares of First Republic Bank's 5.625% Noncumulative Perpetual Series C Preferred Stock (NYSE: FRC.PRC) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.4062), with shares changing hands as low as $23.06 on the day. This compares to an average yield of 5.11% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FRC.PRC was trading at a 4.00% discount to its liquidation preference amount, vers...