Zacks Investment Research Downgrades KB Financial Group (KB) to Sell
Zacks Investment Research lowered shares of KB Financial Group (NYSE:KB) from a hold rating to a sell 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. “
Separately, Credit Suisse Group started coverage on shares of KB Financial Group in a research report on Tuesday, October 23rd. They set an outperform rating for the company.
KB Financial Group (NYSE:KB) last posted its quarterly earnings data on Wednesday, November 14th. The bank reported $2.15 EPS for the quarter. KB Financial Group had a net margin of 21.67% and a return on equity of 9.90%. The business had revenue of $2.50 billion during the quarter. On average, equities analysts predict that KB Financial Group will post 7.53 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of KB. Stelac Advisory Services LLC acquired a new position in KB Financial Group during the third quarter valued at $105,000. Quantamental Technologies LLC acquired a new position in KB Financial Group during the fourth quarter valued at $122,000. Rehmann Capital Advisory Group lifted its position in KB Financial Group by 20.4% during the third quarter. Rehmann Capital Advisory Group now owns 3,643 shares of the bank’s stock valued at $176,000 after purchasing an additional 617 shares during the period. Renaissance Technologies LLC acquired a new position in KB Financial Group during the second quarter valued at $367,000. Finally, Quadrant Capital Group LLC lifted its position in KB Financial Group by 847.7% during the fourth quarter. Quadrant Capital Group LLC now owns 9,591 shares of the bank’s stock valued at $399,000 after purchasing an additional 8,579 shares during the period. Institutional investors own 6.06% 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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