Zacks Investment Research cut shares of KB Financial Group Inc. (NYSE:KB) from a strong-buy rating to a hold rating in a report issued on Tuesday morning.

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 reports. Citigroup Inc. raised KB Financial Group from a neutral rating to a buy rating in a research note on Thursday, July 21st. TheStreet raised KB Financial Group from a hold rating to a buy rating in a research note on Wednesday, August 17th.

KB Financial Group (NYSE:KB) opened at 34.84 on Tuesday. The company has a market cap of $13.14 billion, a price-to-earnings ratio of 8.05 and a beta of 1.60. KB Financial Group has a 52-week low of $22.84 and a 52-week high of $36.59. The stock has a 50 day moving average of $34.29 and a 200-day moving average of $30.28.

A number of institutional investors have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its position in KB Financial Group by 11.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 191,565 shares of the company’s stock worth $5,452,000 after buying an additional 20,293 shares during the period. Numeric Investors LLC purchased a new position in KB Financial Group during the second quarter worth $1,656,000. Cubist Systematic Strategies LLC purchased a new position in KB Financial Group during the second quarter worth $510,000. State Street Corp increased its position in KB Financial Group by 19.1% in the second quarter. State Street Corp now owns 144,740 shares of the company’s stock worth $4,119,000 after buying an additional 23,201 shares during the period. Finally, Hsbc Holdings PLC increased its position in KB Financial Group by 71.9% in the second quarter. Hsbc Holdings PLC now owns 71,941 shares of the company’s stock worth $2,048,000 after buying an additional 30,090 shares during the period. 7.02% of the stock is owned by hedge funds and other institutional investors.

KB Financial Group Company Profile

5 Day Chart for NYSE:KB

Get a free copy of the Zacks research report on KB Financial Group (KB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for KB Financial Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Financial Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.