Citizens Financial's (CFG) latest developments reflect its effort to attract new high-net-worth clients within the wealth management space.
M&T Bank, Citizens Financial Group, AG Mortgage Investment Trust, Chimera Investment Corporation, and Southern California Edison priced new offerings of preferred stock and senior notes. The new shares and notes were rated by various credit rating agencies and traded temporarily on the OTC before moving to permanent symbols on the NYSE. Investors can purchase newly introduced preferred stock shares at wholesale prices on the OTC, potentially avoiding capital losses if prices drop.
It's no secret that high interest rates are a headwind for dividend-paying stocks, but some are worth considering.