Charles Schwab better; AT&T preferreds decline; Northern Trust worse

By James McCandless

San Antonio, April 24 – The end of the week in the preferred space saw an overall improvement, though top traders varied.

Leading the day’s activity, Charles Schwab Corp.’s 5.95% series D non-cumulative perpetual preferreds were up 2 cents to close at $26.26 on volume of about 1.6 million shares.

Elsewhere in the finance space, Bank of America Corp.’s 5% series LL non-cumulative preferreds shaved off 4 cents to close at $24.46 with about 283,000 shares trading.

Sector peer Goldman Sachs Group, Inc.’s series D floating rate non-cumulative preferreds added 9 cents to close at $20.13 on volume of about 283,000 shares.

Telecom company AT&T Inc.’s 4.75% series C perpetual preferred stock and its 5% series A cumulative perpetual preferred stock both declined.

The series C preferreds dipped 16 cents to close at $22.72 with about 925,000 shares trading.

The series A preferreds were pushed down 14 cents to close at $24.69 with about 192,000 shares.

Meanwhile, asset manager Northern Trust Corp.’s 4.7% series E non-cumulative perpetual preferreds dropped 12 cents to close at $24.91 on volume of about 158,000 shares.

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