Wells Fargo's Preferred Stock, Series A Shares Cross 6% Yield Mark

In trading on Thursday, shares of Wells Fargo & Co.'s 6.375% Cumulative Perpetual Preferred Stock, Series A (NYSE: WFE.PRA) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.5938), with shares changing hands as low as $26.44 on the day. This compares to an average yield of 5.41% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, WFE.PRA was trading at a 6.68% premium to its liquidation preference amount, versus the...