Capital One ends under par; AT&T preferreds gain; MetLife lower

By James McCandless

San Antonio, Sept. 11 – At the end of the holiday-shortened week, the preferred market ended with a downward shift.

At the top of secondary activity, Capital One Financial Corp.’s new $125 million 4.625% series K fixed-rate non-cumulative perpetual preferred stock closed under par.

The company’s more established 4.8% series J fixed-rate non-cumulative perpetual preferreds saw an improvement.

Elsewhere in the finance space, Huntington Bancshares, Inc.’s 6.25% series D non-cumulative perpetual preferred stock trended higher.

Sector peer Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferred stock drifted downward.

Telecom services provider AT&T, Inc.’s 4.75% series C perpetual preferred stock finished the afternoon with a gain.

Meanwhile, insurance carrier MetLife, Inc.’s 4.75% series F non-cumulative preferred stock was pulled lower.

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