KB Financial Group Inc (KB) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of KB Financial Group Inc (NYSE:KB) from a sell rating to a hold rating in a research note published on Saturday morning. They currently have $60.00 target price on the bank’s stock.

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. “

A number of other research analysts have also recently weighed in on the company. BidaskClub cut KB Financial Group from a buy rating to a hold rating in a report on Friday, August 11th. J P Morgan Chase & Co assumed coverage on KB Financial Group in a report on Wednesday, August 9th. They issued an overweight rating on the stock.

Shares of KB Financial Group (KB) opened at 52.60 on Friday. KB Financial Group has a 12-month low of $34.36 and a 12-month high of $54.36. The stock has a market cap of $20.86 billion, a P/E ratio of 8.15 and a beta of 1.19. The company has a 50 day moving average price of $49.56 and a 200 day moving average price of $48.94.

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A number of institutional investors have recently modified their holdings of KB. BNP Paribas Arbitrage SA boosted its holdings in KB Financial Group by 75.1% in the second quarter. BNP Paribas Arbitrage SA now owns 3,080 shares of the bank’s stock valued at $156,000 after acquiring an additional 1,321 shares during the last quarter. Simplex Trading LLC boosted its holdings in KB Financial Group by 1,773.8% in the third quarter. Simplex Trading LLC now owns 3,654 shares of the bank’s stock valued at $179,000 after acquiring an additional 3,459 shares during the last quarter. Advisor Group Inc. boosted its holdings in KB Financial Group by 45.2% in the second quarter. Advisor Group Inc. now owns 4,401 shares of the bank’s stock valued at $220,000 after acquiring an additional 1,370 shares during the last quarter. Paloma Partners Management Co acquired a new position in KB Financial Group in the first quarter valued at $242,000. Finally, Eagle Asset Management Inc. boosted its holdings in KB Financial Group by 11.2% in the second quarter. Eagle Asset Management Inc. now owns 7,121 shares of the bank’s stock valued at $359,000 after acquiring an additional 715 shares during the last quarter. Hedge funds and other institutional investors own 5.68% of the company’s stock.

KB Financial Group Company Profile

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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