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

Meanwhile, in the finance space, WesBanco, Inc.’s 6.75% series A fixed-rate reset non-cumulative perpetual preferreds gained 16 cents to close at $26.38 with about 496,000 shares trading.

Sector peer Truist Financial Corp.’s 4.75% series R non-cumulative perpetual preferreds 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 preferreds dropped 32 cents to close at $22.18 with about 363,000 shares trading.

Elsewhere, REIT Public Storage’s 5.2% series W cumulative preferred shares were active but ultimately closed level at $25.30 on volume of about 364,000 shares.

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