Keefe, Bruyette & Woods Inc. has added Popular Inc. to its KBW Nasdaq Regional Banking as part of an index rebalancing for the third quarter of 2016, the Puerto Rico-based bank announced Tuesday.
The change will be effective prior to the opening of the market on Sept, 19, 2016.
“We are pleased to join the KBW Nasdaq Regional Banking Index,” said Popular Inc. CEO Richard L. Carrión.
“We remain focused on further strengthening the leading position in our main market, Puerto Rico, while supporting the growth of our franchise in the mainland United States as we continue to enhance shareholder value,” he said.
The KBW Nasdaq Regional Banking Index is a modified market capitalization weighted index designed to track the performance of U.S. regional banks or thrifts that are publicly traded in the U.S.