KB Financial Group Inc. (KB) Cut to “Hold” at Zacks Investment Research
KB Financial Group Inc. (NYSE:KB) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
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. “
A number of other brokerages have also commented on KB. TheStreet raised shares of KB Financial Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 17th. Citigroup Inc. raised shares of KB Financial Group from a “neutral” rating to a “buy” rating in a report on Thursday, July 21st.
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KB Financial Group (NYSE:KB) traded up 0.71% during trading on Tuesday, reaching $34.03. 122,604 shares of the company traded hands. KB Financial Group has a 12-month low of $22.84 and a 12-month high of $36.59. The firm has a market capitalization of $12.83 billion, a price-to-earnings ratio of 7.86 and a beta of 1.60. The firm’s 50 day moving average price is $34.10 and its 200 day moving average price is $30.21.
Several institutional investors have recently modified their holdings of KB. Franklin Resources Inc. raised its position in shares of KB Financial Group by 1.5% in the first quarter. Franklin Resources Inc. now owns 10,006,827 shares of the company’s stock worth $276,088,000 after buying an additional 146,117 shares during the last quarter. Mittleman Brothers LLC raised its position in KB Financial Group by 7.3% in the second quarter. Mittleman Brothers LLC now owns 759,487 shares of the company’s stock valued at $21,615,000 after buying an additional 51,520 shares in the last quarter. Royal Bank of Canada raised its position in KB Financial Group by 3.0% in the first quarter. Royal Bank of Canada now owns 447,767 shares of the company’s stock valued at $12,353,000 after buying an additional 12,837 shares in the last quarter. Aperio Group LLC raised its position in KB Financial Group by 0.4% in the first quarter. Aperio Group LLC now owns 312,234 shares of the company’s stock valued at $8,615,000 after buying an additional 1,280 shares in the last quarter. Finally, Orbis Allan Gray Ltd acquired a new position in KB Financial Group during the first quarter valued at approximately $7,784,000. 7.05% of the stock is currently owned by hedge funds and other institutional investors.
About KB Financial Group
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