KB Financial Group Inc (KB) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research lowered shares of KB Financial Group Inc (NYSE:KB) from a strong-buy rating to a hold rating in a report issued on Wednesday.
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. “
Other research analysts have also issued research reports about the company. BidaskClub raised KB Financial Group from a hold rating to a buy rating in a report on Monday, July 24th. J P Morgan Chase & Co started coverage on KB Financial Group in a report on Wednesday, August 9th. They set an overweight rating on the stock.
Shares of KB Financial Group (NYSE:KB) opened at 50.05 on Wednesday. The company has a 50-day moving average of $49.26 and a 200-day moving average of $47.58. The firm has a market cap of $19.85 billion, a PE ratio of 7.76 and a beta of 1.21. KB Financial Group has a 1-year low of $34.01 and a 1-year high of $54.36.
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A number of hedge funds have recently made changes to their positions in the stock. Northern Trust Corp grew its holdings in KB Financial Group by 3.9% during the second 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 period. Vanguard Group Inc. grew its holdings in KB Financial Group by 2.1% during the second quarter. Vanguard Group Inc. now owns 1,140,173 shares of the bank’s stock worth $57,567,000 after acquiring an additional 23,659 shares during the period. Aperio Group LLC grew its holdings in KB Financial Group by 12.7% during the second quarter. Aperio Group LLC now owns 459,691 shares of the bank’s stock worth $23,210,000 after acquiring an additional 51,665 shares during the period. Orbis Allan Gray Ltd grew its holdings in KB Financial Group by 2.2% during the second quarter. Orbis Allan Gray Ltd now owns 412,024 shares of the bank’s stock worth $20,803,000 after acquiring an additional 9,016 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in KB Financial Group by 49.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 357,279 shares of the bank’s stock worth $18,039,000 after acquiring an additional 118,515 shares during the period. 5.63% of the stock is currently owned by hedge funds and other institutional investors.
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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