Triumph Bancorp: A New 7.125% Preferred Stock IPO From This Small Texas Bank (NASDAQ:TBK)

Seeking Alpha | Jun 29, 2020 at 4:06 PM
  • In terms of the US regional banks, we are in a real boom after the COVID-19 crisis, as from a total of 18 preferred stocks issued since May, 12 are offered by a regional bank.
  • With its current yield of 7.42%, TBKCP is the highest yielding preferred stock in this group, returning slightly higher than the second-highest BANC-D, but note that BANC-D can be called for redemption at any time from Bank of California.
  • Due to the fact TBKCP is trading 4% below its par value, this 7.42% Current Yield is, in fact, its YTW, and when compared to the other issues’ YTW, the new IPO also has the highest return.