Introduction
After 2 months of drought in respect of newly issued fixed-income securities, the financial companies are the first to return to raising capital through preferred stock offerings. OceanFirst Financial Corp. (OCFC), Wintrust Financial Corp. (WTFC), First Midwest Bancorp (FMBI) have already offered their IPOs. For OCFC and FMBI, these were also their first-ever issued preferred securities. Now, we see Stifel Financial Corp. (SF) offering their Series C preferred stock, a little over a year after their last fixed income IPO, the Series B preferred stock. In this article, we want to acquaint