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KBW announces rebalancing of the index for the third quarter of 2021

By on September 11, 2021 0

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NEW YORK, September 10, 2021 (GLOBE NEWSWIRE) – Keefe, Bruyette & Woods, Inc., a leading investment bank specializing in financial services and fintech, and a wholly-owned subsidiary of Stifel Financial Corp . (NYSE: SF), announces the next rebalancing of the index for the third quarter of 2021.

This quarter there are constitutive changes within two of our indices: the KBW Nasdaq Banking Index (Index memometer: BKXSM, ETF mnemonic: KBWBSM) and the KBW Nasdaq Regional Banking Index (Index memometer: KRXSM, ETF mnemonic: KBWRSM).

These changes will come into effect before the office opens on Monday, September 20, 2021.

As part of this rebalancing, you will find below the component level changes across the impacted indices.:

KBW Nasdaq Bank Index (index symbol: BKX; ETF symbol: KBWB)
Add (1): New York Community Bancorp, Inc. (NYSE: NYCB)
Delete (1): People’s United Financial, Inc. (NASDAQ: PBCT)
The withdrawal of PBCT is due to its involvement as a target in an ongoing acquisition.
KBW Nasdaq Regional Banking Index (index symbol: KRX; ETF symbol: KBWR)
Add (5): Ameris Bancorp (NASDAQ: ABCB)First BanCorp. (NYSE: FBP)Pacific Premier Bancorp, Inc. (NASDAQ: PPBI)Simmons First National Corporation (NASDAQ: SFNC)WSFS Financial Corporation (NASDAQ: WSFS)
Delete (5): Cadence Bancorporation (NYSE: CADE)First Midwest Bancorp, Inc. (NASDAQ: FMBI)Flagstar Bancorp, Inc. (NYSE: FBC)New York Community Bancorp, Inc. (NYSE: NYCB)Sterling Bancorp (NYSE: STL)
The deletion of NYCB is due to its migration to BKX. The deletions of CADE, FMBI, FBC and STL are due to their involvement as targets in current acquisitions.

Several of the KBW Nasdaq indices have licensed exchange traded funds: KBW Nasdaq Bank Index (index code: BKXSM, ETF symbol: KBWBSM); KBW Nasdaq Capital Markets Index (index symbol: KSXSM); KBW Nasdaq Insurance Index (index symbol: KIXSM); KBW Nasdaq Regional Banking Index (index symbol: KRXSM, ETF symbol: KBWRSM); KBW Nasdaq Financial Sector Dividend Yield Index (index symbol: KDXSM, ETF symbol: KBWDSM); KBW Nasdaq Premium Yield Equity REIT Index (index symbol: KYXSM, ETF symbol: KBWYSM); KBW Nasdaq P&C Insurance Index (index symbol: KPXSM, ETF symbol: KBWPSM); KBW Nasdaq Global Bank Index (index symbol: GBKXSM); KBW Nasdaq Financial Technology Index (Index Symbol: KFTXSM, ETF Symbol: FTEK.LNSM).

Not all listed securities may be suitable for retail investors; in addition, all listed securities may not be available to US investors. European investors interested in FTEK LN can contact Invesco at https://etf.invesco.com/gb/private/en/product/invesco-kbw-nasdaq-fintech-ucits-etf-acc/trading-information. US investors cannot buy or hold FTEK LN. An investor cannot invest directly in an index.

About KBW KBW (Keefe, Bruyette & Woods, Inc., operating in the United States, and Stifel Nicolaus Europe Limited, also operating as Keefe, Bruyette & Woods Europe, operating in Europe) is a Stifel company. Over the years, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking and specialist finance industries. Founded in 1962, the company holds industry-leading positions in research, corporate finance, mergers and acquisitions, and the sale and trading of equity securities of financial services companies.

Media contact Neil Shapiro, (212) [email protected]

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Source: Keefe, Bruyette & Woods, Inc. (KBW)