Sterling Bancorp's Preferred Securities Cross Above 6% Yield Territory
June 12, 2019 at 14:15 PM EDT
In trading on Wednesday, shares of Sterling Bancorp's 8.375% Cumulative Trust Preferred Securities (STL. RA) were yielding above the 6% mark based on its quarterly dividend (annualized to $1.625), with shares changing hands as low as $27.00 on the day.