Zacks Investment Research Upgrades KB Financial Group (KB) to Hold
KB Financial Group (NYSE:KB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
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. “
Several other research firms also recently commented on KB. Credit Suisse Group assumed coverage on shares of KB Financial Group in a report on Tuesday, October 23rd. They issued an “outperform” rating on the stock. Bank of America downgraded shares of KB Financial Group from a “buy” rating to a “neutral” rating and set a $61.00 price objective on the stock. in a report on Thursday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. KB Financial Group currently has an average rating of “Hold” and a consensus price target of $61.50.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its holdings in KB Financial Group by 12.4% during the second quarter. Rockefeller Capital Management L.P. now owns 11,255 shares of the bank’s stock worth $523,000 after buying an additional 1,245 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in KB Financial Group by 8.2% during the third quarter. Mackenzie Financial Corp now owns 17,100 shares of the bank’s stock worth $826,000 after buying an additional 1,300 shares in the last quarter. Wetherby Asset Management Inc. boosted its holdings in KB Financial Group by 5.4% during the third quarter. Wetherby Asset Management Inc. now owns 25,866 shares of the bank’s stock worth $1,249,000 after buying an additional 1,326 shares in the last quarter. Comerica Bank boosted its holdings in KB Financial Group by 6.1% during the third quarter. Comerica Bank now owns 24,456 shares of the bank’s stock worth $1,111,000 after buying an additional 1,397 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in KB Financial Group by 18.2% during the third quarter. Signaturefd LLC now owns 9,259 shares of the bank’s stock worth $447,000 after buying an additional 1,423 shares in the last quarter. 6.07% of the stock is currently owned by hedge funds and other institutional investors.
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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