Zacks Investment Research upgraded shares of KB Financial Group (NYSE:KB) from a sell rating to a hold rating in a research note published on Wednesday, September 19th.
According to Zacks, “KOOKMIN BANK, formerly KB Financial Group Inc., is a commercial bank in Korea. On the asset side, the Company provides credit and related financial services to individuals and small and medium sized enterprises and, to a lesser extent, to large corporate customers. On the deposit side, it provides a range of deposit products and related services to both individuals and enterprises of all sizes. “
Several other research analysts have also commented on the company. Bank of America lowered KB Financial Group from a buy rating to a neutral rating and set a $61.00 price target on the stock. in a research report on Thursday, August 30th. ValuEngine lowered KB Financial Group from a hold rating to a sell rating in a research report on Thursday, June 21st.
KB Financial Group (NYSE:KB) last announced its quarterly earnings data on Thursday, July 19th. The bank reported $2.22 earnings per share (EPS) for the quarter. The business had revenue of $2.60 billion during the quarter. KB Financial Group had a return on equity of 9.81% and a net margin of 22.13%. Analysts predict that KB Financial Group will post 8.1 EPS for the current year.
Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its holdings in shares of KB Financial Group by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 4,355,000 shares of the bank’s stock valued at $202,424,000 after purchasing an additional 18,763 shares during the period. Northern Trust Corp grew its holdings in KB Financial Group by 3.6% during the second quarter. Northern Trust Corp now owns 1,309,896 shares of the bank’s stock worth $60,884,000 after acquiring an additional 44,955 shares during the period. Trinity Street Asset Management LLP grew its holdings in KB Financial Group by 82.1% during the third quarter. Trinity Street Asset Management LLP now owns 1,247,022 shares of the bank’s stock worth $60,206,000 after acquiring an additional 562,153 shares during the period. BlackRock Inc. grew its holdings in KB Financial Group by 95.5% during the second quarter. BlackRock Inc. now owns 696,270 shares of the bank’s stock worth $32,362,000 after acquiring an additional 340,157 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in KB Financial Group by 12.5% during the first quarter. Wells Fargo & Company MN now owns 568,159 shares of the bank’s stock worth $32,919,000 after acquiring an additional 63,335 shares during the period. 5.78% of the stock is currently owned by institutional investors and hedge funds.
About KB Financial Group
KB Financial Group Inc, a financial holding company, provides a range of banking and related financial services to consumers and corporations in South Korea and internationally. It operates through Corporate Banking, Retail Banking, Other Banking Services, Securities Business, Non-life Insurance Business, Credit Card Business, and Life Insurance Business segments.
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