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FNB's Preferred Stock, Series E Yield Pushes Past 7.5%

By Preferred Stock Channel Staff, Thursday, April 27, 2:36 PM ET
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In trading on Thursday, shares of FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:FNB.PRE) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.813), with shares changing hands as low as $23.65 on the day. This compares to an average yield of 6.43% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, FNB.PRE was trading at a 2.76% discount to its liquidation preference amount, versus the average discount of 9.48% in the "Financial" category. Investors should keep in mind that the shares are not cumulative, meaning that in the event of a missed payment, the company does not have to pay the balance of missed dividends to preferred shareholders before resuming a common dividend.

The chart below shows the one year performance of FNB.PRE shares, versus FNB:

Performance Comparison Chart

Below is a dividend history chart for FNB.PRE, showing historical dividend payments on FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E :


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In Thursday trading, FNB Corp's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:FNB.PRE) is currently off about 0.1% on the day, while the common shares (NYSE:FNB) are up about 2.7%.


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