Cullen/Frost Bankers' Preferred Stock Series B Shares Cross 6.5% Yield Mark

Cullen/Frost Bankers' 4.45% Series B non‑cumulative preferred (CFR.PRB) was yielding above 6.5% based on the quarterly dividend annualized to $1.1125. Shares traded as low as $16.95 on the day, implying a market price discount sufficient to push current yield well above the stated coupon.

Analysis

Cullen/Frost Bankers' 4.45% Series B non‑cumulative preferred (CFR.PRB) was yielding above 6.5% based on the quarterly dividend annualized to $1.1125. Shares traded as low as $16.95 on the day, implying a market price discount sufficient to push current yield well above the stated coupon.