NEW YORK, July 25, 2016 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 indices after the close of trading on Friday, July 29:
- S&P SmallCap 600 constituent MB Financial Inc. (NASD: MBFI) will replace First Niagara Financial Group Inc. (NASD: FNFG) in the S&P MidCap 400, BioTelemetry Inc. (NASD: BEAT) will replace MB Financial in the S&P SmallCap 600. S&P 500 constituent KeyCorp (NYSE: KEY) is acquiring First Niagara Financial Group in a deal expected to be completed soon pending final conditions.
- Raven Industries Inc. (NASD: RAVN) will replace Wilshire Bancorp Inc. (NASD: WIBC) in the S&P SmallCap 600. S&P SmallCap 600 constituent BBCN Bancorp Inc. (NASD: BBCN) is acquiring Wilshire Bancorp in a deal expected to be completed soon pending final conditions.
MB Financial provides financial services to small and middle market businesses, and individuals. Headquartered in Chicago, IL, the company will be added to the S&P MidCap 400 GICS (Global Industry Classification Standard) Regional Banks Sub-Industry index.
BioTelemetry provides cardiac monitoring, cardiac monitoring device manufacturing, and centralized cardiac core laboratory services. Headquartered in Malvern, PA, the company will be added to the S&P SmallCap 600 GICS Healthcare Services Sub-Industry index.
Raven Industries provides various products to customers in the industrial, agricultural, energy, construction, and defense/aerospace markets. Headquartered in Sioux Falls, SD, the company will be added to the S&P SmallCap 600 GICS Industrial Conglomerates Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400 INDEX – JULY 29, 2016
GICS ECONOMIC SECTOR
First Niagara Financial Group
S&P SMALLCAP 600 INDEX – JULY 29, 2016
GICS ECONOMIC SECTOR
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SOURCE S&P Dow Jones Indices