Allstate preferreds decline; WesBanco better; Public Storage active, unchanged

By James McCandless

San Antonio, Aug. 27 – Wrapping up Thursday, the preferred space extended a run of improvements.

As the day’s volume leader, Allstate Corp.’s 5.1% series H fixed-rate non-cumulative perpetual preferred stock was seen declining.

Meanwhile, in the finance space, WesBanco, Inc.’s 6.75% series A fixed-rate reset non-cumulative perpetual preferreds saw better levels.

Sector peer Truist Financial Corp.’s 4.75% series R non-cumulative perpetual preferred stock followed the positive trend.

U.S. Bancorp’s series B floating rate non-cumulative perpetual preferred stock took a fall as the day concluded.

Elsewhere, REIT Public Storage’s 5.2% series W cumulative preferred shares were active but ultimately unchanged.

Allstate down

As the day’s secondary volume leader, insurance provider Allstate’s 5.1% series H fixed-rate non-cumulative perpetual preferred stock was seen declining.

The preferreds (NYSE: ALLPrH) were down 18 cents to close at $27.07 on volume of about 734,000 shares.

WesBanco up

Meanwhile, in the finance space, WesBanco’s 6.75% series A fixed-rate reset non-cumulative perpetual preferreds saw better levels.

The preferreds (Nasdaq: WSBCP) gained 16 cents to close at $26.38 with about 496,000 shares trading.

Sector peer Truist’s 4.75% series R non-cumulative perpetual preferred stock followed the overarching positive trend.

The preferreds (NYSE: TFCPrR) rose 7 cents to close at $26.45 on volume of about 384,000 shares.

U.S. Bancorp’s series B floating rate non-cumulative perpetual preferred stock took a fall as the day concluded.

The preferreds (NYSE: USBPrH) dropped 32 cents to close at $22.18 with about 363,000 shares trading.

Public Storage flat

Elsewhere, real estate investment trust Public Storage’s 5.2% series W cumulative preferred shares were active but ultimately unchanged.

The preferreds (NYSE: PSAPrW) closed level at $25.30 on volume of about 364,000 shares.

Indexes mixed

The Wells Fargo Hybrid & Preferred Securities Financial index capped the session up by 0.22%, building on a 0.07% lift from early Thursday trading.

The iShares US Preferred Stock ETF was down 1 cent to $36.69.

© 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.