Zacks Investment Research Upgrades KB Financial Group (KB) to Buy

KB Financial Group (NYSE:KB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday. The firm presently has a $71.00 price objective on the bank’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.11% from the company’s current price.

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 report on Monday, November 27th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $71.00.

Shares of KB Financial Group (NYSE KB) traded up $0.81 during trading hours on Friday, hitting $63.90. 126,378 shares of the company’s stock were exchanged, compared to its average volume of 115,001. KB Financial Group has a 52 week low of $39.91 and a 52 week high of $63.96. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market cap of $25,299.28, a P/E ratio of 9.92, a PEG ratio of 0.44 and a beta of 1.20.

Several institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in KB Financial Group by 8.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 145,489 shares of the bank’s stock worth $7,346,000 after purchasing an additional 11,949 shares during the period. Deltec Asset Management LLC boosted its stake in KB Financial Group by 117.6% during the 3rd quarter. Deltec Asset Management LLC now owns 37,000 shares of the bank’s stock worth $1,814,000 after purchasing an additional 20,000 shares during the period. Dorsey Wright & Associates boosted its stake in KB Financial Group by 47.2% during the 3rd quarter. Dorsey Wright & Associates now owns 93,903 shares of the bank’s stock worth $4,653,000 after purchasing an additional 30,128 shares during the period. Sei Investments Co. boosted its stake in KB Financial Group by 819.7% during the 3rd quarter. Sei Investments Co. now owns 9,307 shares of the bank’s stock worth $456,000 after purchasing an additional 8,295 shares during the period. Finally, Hermes Investment Management Ltd. acquired a new stake in KB Financial Group during the 3rd quarter worth $8,757,000. Institutional investors and hedge funds own 5.93% of the company’s stock.

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About KB Financial Group

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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