KBW Announces Index Rebalancing for Fourth-Quarter 2017

December 8, 2017 9:00 PM

NEW YORK--(BUSINESS WIRE)-- Keefe, Bruyette & Woods, Inc., a full‐service, boutique investment bank and broker‐dealer that specializes in the financial services sector, and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), announces the upcoming index rebalancing for the fourth quarter of 2017.

This quarter there are constituent changes within five of our indexes, including the KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX), the KBW Nasdaq Global Bank Index (Index Ticker: GBKX), the KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX), and the KBW Nasdaq Regional Banking Index (Index Ticker: KRX).

There are a number of changes to the two modified-dividend-yield-weighted indexes – KDX and the KYX – to adjust annually for relevant dividend yields and ensure the integrity of these indexes. Both KDX and KYX are specifically constructed to include those eligible companies with competitive dividend yields.

These changes will be effective prior to the opening of business on Monday, December 18, 2017.

As part of this rebalancing, below are the component level changes across various indices:

KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDX; ETF Ticker: KBWD)

Add (9):

AmTrust Financial Services, Inc. (NASDAQ: AFSI)

Apollo Commercial Real Estate Finance, Inc. (NYSE: ARI)

Dynex Capital, Inc. (NYSE: DX)

Janus Henderson Group Plc (NYSE: JHG)

Newtek Business Services Corp. (NASDAQ: NEWT)

Northwest Bancshares, Inc. (NASDAQ: NWBI)

Oxford Lane Capital Corp. (NASDAQ: OXLC)

Stellus Capital Investment Corporation (NYSE: SCM)

United Bankshares, Inc. (NASDAQ: UBSI)

Delete (9):

Apollo Investment Corporation (NASDAQ: AINV)

ARMOUR Residential REIT, Inc. (NYSE: ARR)

First American Financial Corporation (NYSE: FAF)

Gladstone Capital Corporation (NASDAQ: GLAD)

Greenhill & Co., Inc. (NYSE: GHL)

PennantPark Investment Corporation (NASDAQ: PNNT)

Resource Capital Corp. (NYSE: RSO)

Umpqua Holdings Corporation (NASDAQ: UMPQ)

Waddell & Reed Financial, Inc. (NYSE: WDR)

KBW Nasdaq Financial Technology Index (Index Ticker: KFTX)

Add (1):

Black Knight, Inc. (NYSE: BKI)

KBW Nasdaq Global Bank Index (Index Ticker: GBKX)

Add (1):

Royal Bank of Canada (Toronto:RY.CN)

KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYX; ETF Ticker: KBWY)

Add (10):

Ashford Hospitality Prime, Inc. (NYSE: AHP)

DDR Corp. (NYSE: DDR)

EPR Properties (NYSE: EPR)

Farmland Partners Inc. (NYSE: FPI)

Hersha Hospitality Trust (NYSE: HT)

Kite Realty Group Trust (NYSE: KRG)

MedEquities Realty Trust, Inc. (NYSE: MRT)

Pennsylvania Real Estate Investment Trust (NYSE: PEI)

Ramco-Gershenson Properties Trust (NYSE: RPT)

Tanger Factory Outlet Centers, Inc. (NYSE: SKT)

Delete (9):

CBL & Associates Properties, Inc. (NYSE: CBL)

Global Medical REIT, Inc. (NYSE: GMRE)

Gramercy Property Trust (NYSE: GPT)

Investors Real Estate Trust (NYSE: IRET)

MGM Growth Properties LLC Class A (NYSE: MGP)

Preferred Apartment Communities, Inc. (NYSE: APTS)

RLJ Lodging Trust (NYSE: RLJ)

STAG Industrial, Inc. (NYSE: STAG)

Xenia Hotels & Resorts, Inc. (NYSE: XHR)

KBW Nasdaq Regional Banking Index (Index Ticker: KRX; ETF Ticker: KBWR)

Add (3):

Chemical Financial Corp. (NASDAQ: CHFC)

First Hawaiian, Inc. (NASDAQ: FHB)

Home Bancshares, Inc. (NASDAQ: HOMB)

Delete (3):

BOK Financial Corp. (NASDAQ: BOKF)

S&T Bancorp, Inc. (NASDAQ: STBA)

Westamerica Bancorp (NASDAQ: WABC)

BOKF, STBA, and WABC failed to meet the minimum monthly average daily trading volume requirement for continued inclusion.

Several of the KBW Nasdaq indices have tradable exchange‐traded funds licensed: KBW Nasdaq Bank Index (Index Ticker: BKXSM, ETF Ticker: KBWBSM); KBW Nasdaq Capital Markets Index (Index Ticker: KSXSM); KBW Nasdaq Insurance Index (Index Ticker: KIXSM); KBW Nasdaq Regional Banking Index (Index Ticker: KRXSM, ETF Tickers: KBWRSM); KBW Nasdaq Financial Sector Dividend Yield Index (Index Ticker: KDXSM, ETF Ticker: KBWDSM); KBW Nasdaq Premium Yield Equity REIT Index (Index Ticker: KYXSM, ETF Ticker: KBWYSM); KBW Nasdaq Property and Casualty Insurance Index (Index Ticker: KPXSM, ETF Ticker: KBWPSM); KBW Nasdaq Global Bank Index (Index Ticker: GBKXSM); KBW Nasdaq Financial Technology Index (Index Ticker: KFTXSM, ETF Ticker: FTEK.LNSM).

About KBW

KBW (Keefe, Bruyette & Woods, Inc., operating in the U.S., and Stifel Nicolaus Europe Limited, also trading 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 specialty finance sectors. Founded in 1962, the firm maintains industry‐leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities securities of financial services companies.

Intermarket Communications

Michael Gelormino, 212-754-5479

Source: Keefe, Bruyette & Woods, Inc.

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