Bank of America Floating Rate Non-Cumulative Preferred Stock, Series 2 Crosses Above 4% Yield Territory

In trading on Friday, shares of Bank of America Corp.'s Floating Rate Non-Cumulative Preferred Stock, Series 2 (NYSE: BML.PRH) were yielding above the 4% mark based on its quarterly dividend (annualized to $0.7667), with shares changing hands as low as $19.01 on the day. This compares to an average yield of 5.39% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BML.PRH was trading at a 20.44% discount to its liquidation preference amount. Inves...