KBW, the parent company of Keefe, Bruyette & Woods, a boutique investment bank specializing in the financial services industry, priced its 6.8 million share offering at $21, the high end of its proposed $19 to $21 range, on Wednesday night. Of the shares sold in the offering, 3.9 million were offered by the firm and 2.9 million were offered by insiders. KBW itself was a lead manager on the deal, along with Merrill Lynch and Banc of America. The stock is expected to begin trading on the NYSE under the ticker KBW on Thursday.
