Signature Bank rises; AT&T preferreds under pressure; Athene drops

By James McCandless

San Antonio, Dec. 14 – At the start of a new week, the preferred market maintained a generally positive trend as top traders faltered.

Leading the secondary activity for a second day, Signature Bank’s new 5% series A non-cumulative perpetual preferred stock rose.

Elsewhere in the finance space, Citigroup, Inc.’s 6.875% series K fixed-to-floating rate non-cumulative preferred stock gained some ground.

Sector peer Bank of America Corp.’s 4.375% series NN non-cumulative preferreds moved along an upward path.

Telecom services giant AT&T, Inc.’s 5% series A cumulative perpetual preferred stock was under pressure on Monday.

Meanwhile, Athene Holding Ltd.’s 6.375% series C fixed-rate reset perpetual non-cumulative preference shares dropped.

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