FMBI - First Midwest Bancorp: Its New Preferred Stock IPO Has The Highest YTW In The Sector
Introduction
After the storm that broke out in February, March, and April, banks are the first to start issuing preferred stocks again. 6 of the 9 new preferred stocks issued in May are the work of banks (OceanFirst Financial (OCFC), Wintrust Financial (WTFC), First Midwest Bancorp (FMBI), Truist Financial (TFC), First Horizon National (FHN), and Pinnacle Financial Partners (PNFP)), while the other 3 are issued by a Life Insurer (BHF), Farmer Mac (Federal Agricultural Mortgage (AGM)), and an investment brokerage (Stifel Financial (SF)). In this article, we want to take a closer look at the