Associated Banc-Corp Series E Preferred Stock Achieves Over 7.5% Yield

On Tuesday, shares of Associated Banc-Corp’s 5.875% Non-Cumulative Perpetual Preferred Stock, Series E (Symbol: ASB.PRE) yielded over 7.5%, with trading prices dropping to as low as $19.52. This yield exceeds the average of 6.83% for “Financial” preferred stocks, according to Preferred Stock Channel. The shares are currently trading at a 20.24% discount to their liquidation preference, while the average discount in the category is 13.59%.

As a clarification for investors, the shares are not cumulative, signifying that any missed dividend payments do not need to be compensated by the company before it resumes dividends for common stockholders. On the same day, ASB.PRE shares were down about 0.2%, and the common shares (Symbol: ASB) fell approximately 1.5%.