Stifel Financial's Preferred Stock Series C Shares Cross 7% Yield Mark

Stifel Financial’s 6.125% Series C non-cumulative preferred (SF.PRC) was trading with a dividend yield above 7%, based on an annualized dividend of $1.5312. Shares reportedly traded as low as $21.81 during Thursday trading, implying investors were pricing in a high income yield rather than a clear fundamental catalyst.

Analysis

Stifel Financial’s 6.125% Series C non-cumulative preferred (SF.PRC) was trading with a dividend yield above 7%, based on an annualized dividend of $1.5312. Shares reportedly traded as low as $21.81 during Thursday trading, implying investors were pricing in a high income yield rather than a clear fundamental catalyst.