KB Financial Group (NYSE:KB) Sets New 12-Month High – Here’s Why

KB Financial Group Inc (NYSE:KB) hit a new 52-week high on Monday . The stock traded as high as $126.57 and last traded at $125.22, with a volume of 18416 shares. The stock had previously closed at $124.16.

Wall Street Analyst Weigh In

Several brokerages have commented on KB. 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 restated a “buy (b)” rating on shares of KB Financial Group in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of KB Financial Group in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy”.

KB Financial Group Stock Performance

The business has a 50-day moving average price of $115.89 and a 200-day moving average price of $109.60. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $44.42 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 0.74 and a beta of 1.01.

KB Financial Group (NYSE:KB) last posted its quarterly earnings data on Friday, August 14th. The bank reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.51 by $0.16. KB Financial Group had a return on equity of 10.11% and a net margin of 17.67%.The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.45 billion. As a group, sell-side analysts forecast that KB Financial Group Inc will post 12.91 earnings per share for the current year.

Hedge Funds Weigh In On KB Financial Group

Hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. lifted its position in KB Financial Group by 131.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 403 shares of the bank’s stock worth $35,000 after acquiring an additional 229 shares during the period. Kestra Advisory Services LLC purchased a new position in KB Financial Group during the fourth quarter worth approximately $39,000. Leonteq Securities AG acquired a new stake in KB Financial Group in the fourth quarter valued at approximately $43,000. Triumph Capital Management purchased a new stake in shares of KB Financial Group in the third quarter valued at approximately $46,000. Finally, Bell Investment Advisors Inc increased its position in shares of KB Financial Group by 29.3% in the first quarter. Bell Investment Advisors Inc now owns 477 shares of the bank’s stock valued at $48,000 after buying an additional 108 shares in the last quarter. Institutional investors and hedge funds own 11.52% of the company’s stock.

KB Financial Group Company 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.