First Merchants' Preferred Stock Series A Crosses Above 7.5% Yield Territory

In trading on Monday, shares of First Merchants Corp's 7.50% Dep Shares Non-Cumulative Preferred Stock Series A (FRMEP) were yielding above the 7.5% mark based on its quarterly dividend (annualized to $1.8752), with shares changing hands as low as $24.97 on the day. This compares to an average yield of 6.78% in the "Financial" preferred stock category, according to Preferred Stock Channel..