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In trading on Wednesday, shares of Banc Of California Inc's 7.75% Dep Shares Rate Reset Non-Cumul Preferred Stock, Series A (Symbol: BANC.PRF) were yielding above the 8.5% mark based on its quarterly dividend (annualized to $1.938), with shares changing hands as low as $22.70 on the day. This compares to an average yield of 6.77% in the "Financial" preferred stock category, according to Preferred Stock Channel. As of last close, BANC.PRF was trading at a 8.24% discount to its liquidation preference amount, versus the average discount of 10.42% 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 BANC.PRF shares, versus BANC:

Below is a dividend history chart for BANC.PRF, showing historical dividend payments on Banc Of California Inc's 7.75% Dep Shares Rate Reset Non-Cumul Preferred Stock, Series A:

In Wednesday trading, Banc Of California Inc's 7.75% Dep Shares Rate Reset Non-Cumul Preferred Stock, Series A (Symbol: BANC.PRF) is currently down about 0.4% on the day, while the common shares (Symbol: BANC) are off about 3.5%.

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