Signature Bank negative; Athene preferreds rise; Qwest $25-par notes better

By James McCandless

San Antonio, Dec. 23 – In the middle of the week shortened by the Christmas holiday, the preferred market was pulled in different directions.

On top of the day’s preferred secondary space, Signature Bank’s 5% series A non-cumulative perpetual preferreds were down 2 cents to close at $25.15 on volume of about 560,000 shares.

Elsewhere in the finance space, Wells Fargo & Co.’s 4.7% series AA non-cumulative perpetual preferreds declined by 10 cents to close at $25.96 with about 189,000 shares trading.

Sector peer Ally Financial, Inc.’s 8.125% series 2 fixed-to-floating rate trust preferred securities pushed upward.

Retirement services provider Athene Holding Ltd.’s recent 4.875% series D fixed-rate perpetual non-cumulative preference shares reached up 21 cents to close at $26.47 on volume of about 161,000 shares.

Meanwhile, communications name Qwest Corp.’s 6.5% notes due 2056 reached a better position by the end of the day, rising 1 cent to close at $25.51 on volume of about 157,000 notes.

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