Synovus preferreds trade down; Allstate preferreds rise; Brookfield Property lower

By James McCandless

San Antonio, Aug. 16 – Preferreds skewed in a negative direction to end trading for the week.

Synovus Financial Corp.’s 5.875% series E fixed-rate reset non-cumulative perpetual preferred stock ended the week lower.

The preferreds (NYSE: SNVPrE) were down 1 cent to close at $25.88 on volume of about 656,000 shares.

Elsewhere in finance, Bank of America Corp.’s 6% series GG and 6.2% series CC non-cumulative preferreds headed lower.

The series GG preferreds (NYSE: BACPrB) dropped 20 cents to close at $26.85 with about 421,000 shares trading.

The series CC preferreds (NYSE: BACPrC) fell 38 cents to close at $26.37 with about 251,000 shares trading.

Sector peer JPMorgan Chase & Co.’s 6% series EE non-cumulative preferreds were also trailing throughout Friday.

The preferreds (NYSE: JPMPrC) lost 12 cents to close at $27.86 on volume of about 334,000 shares.

Insurance provider Allstate Corp.’s 5.1% series H fixed-rate non-cumulative perpetual preferred stock was on the rise.

The preferreds (NYSE: ALLPrH) gained 14 cents to close at $25.62 on volume of about 562,000 shares trading.

Elsewhere, Brookfield Property Partners LP’s recent 6.375% series 2 class A cumulative redeemable perpetual preferred units were under water.

The preferreds, trading under the temporary symbol “BKOYF,” were down 7 cents to close at $24.90 on volume of about 271,000 shares.

© 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.