Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers W > Headlines for Wells Fargo & Co. > News item |
Charles Schwab declines; Allstate preferreds rise; Athene ends positively
By James McCandless
San Antonio, Nov. 3 – Moving into Tuesday, the preferred space ended the session with mixed results.
At the top of the day’s volume, Charles Schwab Corp.’s 5.95% series D non-cumulative perpetual preferred stock declined.
Elsewhere in the finance space, Bank of America Corp.’s 4.375% series NN non-cumulative preferred stock weakened.
Sector peer Wells Fargo & Co.’s 4.75% series Z non-cumulative perpetual class A preferreds were lifted by the close.
Insurance provider Allstate Corp.’s 5.1% fixed-to-floating rate subordinated debentures due 2053 spent the session rising.
Meanwhile, retirement services name Athene Holding Ltd.’s 6.375% series C fixed-rate reset perpetual non-cumulative preference shares were positive.
Charles Schwab off
At the top of the day’s secondary volume, Charles Schwab’s 5.95% series D non-cumulative perpetual preferred stock declined.
The preferreds (NYSE: SCHWPrD) were down 13 cents to close at $25.77 on volume of about 2.5 million shares.
Elsewhere in the finance space, Bank of America’s 4.375% series NN non-cumulative preferred stock weakened.
The preferreds (NYSE: BACPrO) dropped 8 cents to close at $24.90 with about 497,000 shares trading.
On Monday, the preferreds declined by 2 cents.
Sector peer Wells Fargo’s 4.75% series Z non-cumulative perpetual class A preferreds were lifted by the close.
The preferreds (NYSE: WFCPrZ) pushed up 21 cents to close at $25.16 on volume of about 421,000 shares trading.
Allstate rises
Insurance provider Allstate’s 5.1% fixed-to-floating rate subordinated debentures due 2053 spent the session rising.
The preferreds (NYSE: ALLPrB) tacked on 4 cents to close at $25.78 with about 197,000 shares trading.
Athene positive
Meanwhile, retirement services name Athene’s 6.375% series C fixed-rate reset perpetual non-cumulative preference shares were positive as the afternoon ended.
The preferreds (NYSE: ATHPrC) improved by 25 cents to close at $27.32 on volume of about 124,000 shares trading.
Indexes mixed
The Wells Fargo Hybrid & Preferred Securities Financial index ended Tuesday with a 0.14% haircut.
On Monday, the index gained 0.05%.
The iShares US Preferred Stock ETF was up 19 cents to $36.48.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.