Zacks Investment Research Upgrades KB Financial Group (KB) to Hold
Zacks Investment Research upgraded shares of KB Financial Group (NYSE:KB) from a sell rating to a hold rating in a research note published on Friday 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. “
Other research analysts have also issued reports about the stock. Bank of America lowered shares of KB Financial Group from a buy rating to a neutral rating and set a $61.00 price target for the company. in a research note on Thursday, August 30th. Credit Suisse Group started coverage on shares of KB Financial Group in a research note on Tuesday, October 23rd. They issued an outperform rating for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. KB Financial Group presently has an average rating of Hold and an average price target of $61.50.
A number of large investors have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. increased its stake in KB Financial Group by 12.4% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 11,255 shares of the bank’s stock valued at $523,000 after purchasing an additional 1,245 shares in the last quarter. Wetherby Asset Management Inc. increased its stake in KB Financial Group by 5.4% during the 3rd quarter. Wetherby Asset Management Inc. now owns 25,866 shares of the bank’s stock valued at $1,249,000 after purchasing an additional 1,326 shares in the last quarter. Comerica Bank increased its stake in KB Financial Group by 6.1% during the 3rd quarter. Comerica Bank now owns 24,456 shares of the bank’s stock valued at $1,111,000 after purchasing an additional 1,397 shares in the last quarter. Atria Investments LLC increased its stake in KB Financial Group by 14.1% during the 2nd quarter. Atria Investments LLC now owns 11,765 shares of the bank’s stock valued at $547,000 after purchasing an additional 1,451 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in KB Financial Group by 50.9% during the 1st quarter. JPMorgan Chase & Co. now owns 4,813 shares of the bank’s stock valued at $279,000 after purchasing an additional 1,624 shares in the last quarter. Institutional investors and hedge funds own 5.84% of the company’s stock.
About KB Financial Group
KB Financial Group Inc, a financial holding company, provides a range of banking and related financial services to consumers and corporations in South Korea and internationally. It operates through Corporate Banking, Retail Banking, Other Banking Services, Securities Business, Non-life Insurance Business, Credit Card Business, and Life Insurance Business segments.
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