Royal Bank of Canada Acquires 53,952 Shares of KB Financial Group Inc $KB

Royal Bank of Canada boosted its holdings in KB Financial Group Inc (NYSE:KB) by 18.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 342,236 shares of the bank’s stock after acquiring an additional 53,952 shares during the quarter. Royal Bank of Canada’s holdings in KB Financial Group were worth $34,131,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Calamos Advisors LLC bought a new stake in KB Financial Group during the 1st quarter worth approximately $3,842,000. Lazard Asset Management LLC lifted its holdings in shares of KB Financial Group by 2.8% in the first quarter. Lazard Asset Management LLC now owns 1,457,537 shares of the bank’s stock valued at $145,360,000 after purchasing an additional 39,764 shares in the last quarter. WCM Investment Management LLC purchased a new position in shares of KB Financial Group during the first quarter valued at approximately $24,497,000. M&T Bank Corp purchased a new position in shares of KB Financial Group during the fourth quarter valued at approximately $36,964,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in KB Financial Group by 8.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 139,627 shares of the bank’s stock worth $12,014,000 after buying an additional 10,662 shares in the last quarter. Institutional investors and hedge funds own 11.52% of the company’s stock.

KB Financial Group Price Performance

KB Financial Group stock opened at $120.28 on Tuesday. KB Financial Group Inc has a 52 week low of $76.31 and a 52 week high of $125.62. The company’s 50 day moving average price is $110.46 and its two-hundred day moving average price is $106.27. The stock has a market cap of $42.66 billion, a P/E ratio of 10.80, a P/E/G ratio of 0.71 and a beta of 1.01. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.47.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KB shares. Zacks Research raised KB Financial Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of KB Financial Group in a report on Wednesday, June 24th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of KB Financial Group in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. According to MarketBeat.com, KB Financial Group has an average rating of “Buy”.

KB Financial Group Profile

KB Financial Group Inc is a South Korea-based financial holding company that offers a broad range of banking and financial services. Headquartered in Seoul and listed on the New York Stock Exchange under the ticker KB, the group operates through a set of specialized subsidiaries to provide integrated financial solutions for retail, corporate and institutional clients.

The company’s principal businesses include retail and corporate banking, securities and investment banking, insurance (life and non-life), asset management, credit card and consumer finance, and leasing.