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Up until last week I held the Entergy New Orleans 5.50% baby bonds (ENO) in my portfolio–you snooze you lose on this one. Obviously I sold it–I wan’t snoozing, but I might have been dozing a bit. Everyone wants safety—everyone–plus a decent coupon…

Normally when an investor buys a preferred stock or baby bond the decision to buy is pretty easy. For me right now it would be a utility or closed end fund preferred or baby bond I would be most interested in as I am sticking primarily to the quality i…

For those that are invested in the Uhaul Investors Club Amerco (UHAL)has announced earnings for the quarter ending 6/30/2020. While earnings were off a fair amount from the year ago quarter the balance sheet remains very strong. Earnings available to c…

The OTC ticker has been announced as WSBKL. Banker WesBanco (WSBC) has priced the previously announced Fixed-Rate Reset preferred stock. The issue is priced with an initial coupon of 6.75% which will remain in effect until 11/14/2025. On 11/15/2025 the…

Level One Bancorp (LEVL) will be selling a new issue of fixed rate, non-cumulative preferred stock. Level One is a relatively small Michigan banker with assets of just $2.5 billion. Shares will be unrated by the large national ratings agencies, but are…

West Virginia banker WesBanco (WSBC) , which is a a bank holding company with $17 billion in consolidated assets, has announced that they will sell a new issue of non cumulative preferred. The issue will be a fixed-rate reset issue. The issue will be s…

Pointed out by mcg this morning. Legg Mason which is an investment grade financial firm has been bought by ‘A’ rated giant investment manager Franklin Resources (BEN). The deal was closed last Friday. BEN has announced that they will be ‘delisting’ 2 i…

Well we are in a new month and I really look forward to seeing what kind of government silliness unfolds this week. Friday we have the employment report–the big news for the week–will we see some improvement?? Markets say we will see nice improvement…

As no doubt many readers noticed the website was down for a long period of time today–not sure how long, but at least 7 hours–I first noticed it at noon today. Apparently there was a problem with an ‘array’ on the server and the website had to be mig…

I am sure many noticed that the preferred shares of lodge REIT Ashford Hospitality (AHT) took a real hammering on Friday. 4 issues closed in the $4.xx area with 1 issue closing at $5.39. Of course the shares had been trading down in the $5-$6/share are…

Banker Truist Financial (TFC) has priced the previously announced preferred issue. The issue prices with a 4.75% coupon. The banker is investment grade, although not strongly investment grade–this is a crazy coupon, but likely they will have no troubl…

Banking giant Truist Financial (TFC) has announced a new issue of $25 preferred stock. The issue will be non-cumulative, but qualified. I expect it will be investment grade rated by both Moodys and Standard and Poors. Truist is the surviving company fr…