2024-05-17 08:00:00 ET
Summary
- Merchants Bancorp has several preferred stocks, including fixed rate and floating rate issues. The bank recently called one of its preferred stocks, indicating its strong financial position.
- The bank and its three preferred stocks are reviewed here. The market is assigning different yields to Merchants Bancorp's preferred stocks, with MBINN offering an attractive yield.
- Based on what I see and a desire to lock in today's rates for years, I give MBINN my Buy rating, a Hold for the other two.
Introduction
One of my readers suggested I look at Merchants Bancorp ( MBIN ), specifically at one of its preferred stocks. They actually have several, one is fixed rate, the others float. While none are in their Callable period, one of the floating issues does start later this year. The three issues are:
- Merchants Bancorp 8.25% DEP PFD D ( MBINM )
- Merchants Bancorp 6% FXD PFD SR C ( MBINN )
- Merchants Bancorp 6% DP SH PFD B ( MBINO )
Read the full article on Seeking Alpha
For further details see:
Merchants Bancorp And Preferreds Reviewed