Keefe, Bruyette & Woods, Inc.
, a full-service investment bank and a wholly owned subsidiary of KBW, Inc. (KBW)
said it will make changes to its mortgage finance and banking indices. The changes are effective Aug. 30, the firm said in a statement.
Citigroup Inc. (C)
will undergo an increase in shares to account for the shares sold by the U.S. Treasury
, KBW said. In addition, NewAlliance Bancshares, Inc. (NAL)
will be deleted from the mortgage finance index, due to its announced merger with First Niagara Financial Group, Inc. (FNFG)
. NewAlliance will be replaced by Radian Group Inc. (RDN)
The relevant KBW indices and associated ETFs being updated are the KBW Bank Index (KBE)
and the KBW Mortgage Finance Index (KME)
-- this story by HousingWire staff. To contact an editor: firstname.lastname@example.org