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Article: Community Banks Remain Tops In Russell Additions.(more community bank stocks will likely be on the Russell 3000 index )
- Article from:
- American Banker
- Article date:
- July 9, 2003
- Author:
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A record number of community bank stocks will likely be on the Russell 3000 index when the list for the next 12 months is released today, continuing a three-year run in which banks have led the roster's new additions.
As tech companies continue to fall off of the index -- made up of the 3,000 largest public companies by market capitalization -- banks are seen accounting for 72, or 25%, of the 288 firms being added this year.
That represents the most banks and thrifts to join the index in any one year in at least a decade, and it illustrates just how attractive bank stocks have become since July 2000, when only five of the 624 additions were banks or ...