Texas Capital Bancshares Preferred Stock, Series A Yield Pushes Past 7%

In trading on Monday, shares of Texas Capital Bancshares Inc's 6.50% Non-Cumulative Perpetual Preferred Stock, Series A (TCBIP) were yielding above the 7% mark based on its quarterly dividend (annualized to $1.625), with shares changing hands as low as $21.58 on the day. This compares to an average yield of 5.68% in the "Banking & Savings" preferred stock category, according to Preferred Stock Channel..