KB Financial Group Inc (KB) Raised to Hold at Zacks Investment Research

KB Financial Group Inc (NYSE:KB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, October 28th. The brokerage presently has a $60.00 price objective on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 12.61% from the stock’s current price.

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. “

KB has been the subject of a number of other research reports. J P Morgan Chase & Co initiated coverage on KB Financial Group in a research note on Wednesday, August 9th. They set an “overweight” rating for the company. BidaskClub lowered KB Financial Group from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th.

Shares of KB Financial Group (NYSE:KB) traded up $1.43 during midday trading on Friday, reaching $53.28. The company’s stock had a trading volume of 110,747 shares, compared to its average volume of 144,413. The company has a market cap of $21,348.80, a P/E ratio of 7.93, a P/E/G ratio of 0.39 and a beta of 1.19. KB Financial Group has a fifty-two week low of $34.36 and a fifty-two week high of $54.36. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 2.06.

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Several hedge funds and other institutional investors have recently modified their holdings of KB. Northern Trust Corp raised its stake in KB Financial Group by 3.9% in the 2nd quarter. Northern Trust Corp now owns 1,168,613 shares of the bank’s stock worth $59,004,000 after acquiring an additional 43,788 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of KB Financial Group by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,140,173 shares of the bank’s stock worth $57,567,000 after purchasing an additional 23,659 shares during the last quarter. Aperio Group LLC boosted its holdings in shares of KB Financial Group by 3.2% during the 3rd quarter. Aperio Group LLC now owns 474,597 shares of the bank’s stock worth $23,269,000 after purchasing an additional 14,906 shares during the last quarter. Orbis Allan Gray Ltd boosted its holdings in shares of KB Financial Group by 2.2% during the 2nd quarter. Orbis Allan Gray Ltd now owns 412,024 shares of the bank’s stock worth $20,803,000 after purchasing an additional 9,016 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of KB Financial Group by 6.7% during the 3rd quarter. Wells Fargo & Company MN now owns 377,910 shares of the bank’s stock worth $18,529,000 after purchasing an additional 23,827 shares during the last quarter. Hedge funds and other institutional investors own 5.72% of the company’s stock.

About KB Financial Group

KB Financial Group Inc is a financial holding company in Korea. The Company’s operations include Kookmin Bank, a commercial bank in Korea. The Company operates through six business segments: retail banking operations, corporate banking operations, other banking operations, credit card operations, investment and securities operations, and life insurance operations.

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