Wells Fargo Sells New Non Cumulative Preferred Stock Issue
By: Tim McPartland,
Wells Fargo has sold a new non cumulative preferred stock issue.
The issue is investments grade and carries a coupon of 6%—not a huge coupon, but a super solid banking company. The issue is perpetual so will show some price movement when/if interest rates begin to rise. A long term, conservative investor could sleep well at night with this issue if they are income investors with less concern on capital movement.
Details of the issue are here.
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Tim McPartland
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
