In a recent congressional trade report, it was revealed that Neal Dunn, representing Florida's 2nd congressional district, has made several investments in preferred stocks. The transactions were made through his IRA #3, held at Merrill Lynch.
One of the investments was in Cadence Bank's 5.50% Series A (CADE$A) stocks. The purchase, which took place on November 6, 2024, was valued between $1,001 and $15,000. According to InvestingPro data, Cadence Bank has maintained dividend payments for 40 consecutive years and currently offers a 2.8% dividend yield. The stock has shown strong momentum with a 32.7% return over the past six months.
Dunn also invested in Capital One Financial Corporation (NYSE:COF)'s depositary shares, each representing a 1/40th interest in a share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I of the Issuer (COF$I). The transaction, which also occurred on November 6, 2024, was valued in the same range of $1,001 to $15,000. Trading at a P/E ratio of 10.15, Cadence Bank appears fairly valued according to InvestingPro analysis, which offers comprehensive valuation metrics and 10+ additional ProTips for subscribers.
Another investment was made in JP Morgan Chase (NYSE:JPM) & Co's depositary shares preferred series GG. The purchase was made on November 6, 2024, and was valued between $1,001 and $15,000.
Dunn also purchased Regions Financial Corporation (NYSE:RF)'s depositary shares, each representing a 1/40th interest in a share of 4.45% Non-Cumulative Perpetual Preferred Stock, Series E (RF$E). The transaction took place on November 6, 2024, and was valued in the same range of $1,001 to $15,000.
Lastly, he invested in U.S. Bancorp (BVMF:USBC34)'s depositary shares each representing a 1/1,000th interest in a share of Series K Non-Cumulative Perpetual Preferred Stock (USB$P). The purchase was made on November 6, 2024, and was valued between $1,001 and $15,000.
These transactions highlight Dunn's recent investment activity, providing insight into his financial moves. It is important to note that these investments were made in his IRA #3 account, which is held at Merrill Lynch. For investors seeking deeper analysis, InvestingPro offers detailed research reports on Cadence Bank and 1,400+ other US stocks, including comprehensive financial health metrics and expert insights.
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