WILLIMANTIC, Conn., June 29, 2016 (GLOBE NEWSWIRE) -- SI Financial Group, Inc. (NASDAQ:SIFI), the holding company for Savings Institute Bank & Trust, announced today it was added to the Russell 3000® Index and Russell 2000® Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes on June 27, 2016.
"We are pleased to be added to the Russell 2000, which reflects our continued positive momentum and efforts to increase shareholder value," said Rheo Brouillard, President and CEO, Savings Institute Bank & Trust. "We expect our inclusion will raise our profile and generate greater interest in our stock among institutional investors."
Russell indexes are widely used by investment managers and institutional investors for both Index funds and as benchmarks for passive and active investment strategies. In the U.S. marketplace, approximately 98% of the U.S. equity assets are benchmarked by the Russell 3000, representing more than $4 trillion. The Company will hold its membership until Russell reconstitutes its indexes in June 2017.
The annual reconstitution of the Russell 3000 captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000.
The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed, multi-asset portfolios and services that include advice, investments and implementation. Working with institutional investors, financial advisors and individuals, Russell's core capabilities extend across capital markets insights, manager research, Indexes, portfolio implementation and portfolio construction.
SI Financial Group, Inc. is the holding company for Savings Institute Bank and Trust Company. Established in 1842, Savings Institute Bank and Trust Company is a community-oriented financial institution headquartered in Willimantic, Connecticut. Through its twenty-five branch locations, the Bank offers a full-range of financial services to individuals, businesses and municipalities within its market area.
CONTACT: Catherine R. Pomerleau Executive Assistant / Investor Relations Administrator Phone: (860) 456-6514 / Email: firstname.lastname@example.org
Source:SI Financial Group, Inc.