KB Financial Group (NYSE:KB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday.
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, TheStreet cut shares of KB Financial Group from a “b-” rating to a “c” rating in a research report on Monday, November 27th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $70.00.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its stake in shares of KB Financial Group by 1.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 305,608 shares of the bank’s stock valued at $17,882,000 after purchasing an additional 3,156 shares in the last quarter. KCS Wealth Advisory bought a new stake in shares of KB Financial Group during the 4th quarter valued at about $496,000. Parametric Portfolio Associates LLC boosted its stake in shares of KB Financial Group by 8.1% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 351,740 shares of the bank’s stock valued at $17,246,000 after purchasing an additional 26,375 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in shares of KB Financial Group by 43.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 14,222 shares of the bank’s stock valued at $697,000 after purchasing an additional 4,335 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of KB Financial Group during the 3rd quarter valued at about $286,000. 5.92% of the stock is currently owned by hedge funds and other institutional investors.
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KB Financial Group Company Profile
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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