KB Financial Group Inc $KB Stock Position Cut by Summit Global Investments

Summit Global Investments lessened its position in shares of KB Financial Group Inc (NYSE:KB) by 44.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,854 shares of the bank’s stock after selling 4,722 shares during the period. Summit Global Investments’ holdings in KB Financial Group were worth $721,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aprio Wealth Management LLC grew its holdings in shares of KB Financial Group by 1.6% during the third quarter. Aprio Wealth Management LLC now owns 10,270 shares of the bank’s stock worth $1,264,000 after buying an additional 161 shares in the last quarter. Victory Financial Group LLC raised its position in KB Financial Group by 22.2% in the 3rd quarter. Victory Financial Group LLC now owns 6,203 shares of the bank’s stock valued at $764,000 after buying an additional 1,126 shares during the last quarter. Park Avenue Securities LLC lifted its stake in KB Financial Group by 19.4% in the 3rd quarter. Park Avenue Securities LLC now owns 20,437 shares of the bank’s stock valued at $2,516,000 after acquiring an additional 3,319 shares in the last quarter. Leo Wealth LLC bought a new stake in KB Financial Group in the 3rd quarter valued at approximately $207,000. Finally, Apollon Wealth Management LLC bought a new stake in KB Financial Group in the 3rd quarter valued at approximately $234,000. Institutional investors and hedge funds own 11.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on KB shares. Weiss Ratings cut shares of KB Financial Group from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, October 26th. Zacks Research upgraded shares of KB Financial Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

KB Financial Group Trading Down 0.6%

KB Financial Group stock opened at $112.01 on Tuesday. The company has a market cap of $39.73 billion, a price-to-earnings ratio of 9.90, a P/E/G ratio of 0.61 and a beta of 1.05. The firm has a 50-day moving average of $123.00 and a 200-day moving average of $111.41. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.64 and a quick ratio of 1.64. KB Financial Group Inc has a one year low of $81.36 and a one year high of $133.29.

KB Financial Group (NYSE:KB) last released its earnings results on Friday, August 14th. The bank reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.51 by $0.16. KB Financial Group had a return on equity of 10.11% and a net margin of 17.67%. The business had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.45 billion. On average, equities analysts expect that KB Financial Group Inc will post 13.98 earnings per share for the current fiscal year.

KB Financial Group Profile

KB Financial Group Inc is a South Korean financial holding company headquartered in Seoul. Established in 2008, the group operates through a broad network of financial subsidiaries led by KB Kookmin Bank, one of South Korea’s major commercial banks. Its American depositary shares trade on the New York Stock Exchange under the symbol “KB.”

KB Financial Group provides a wide range of financial products and services, including retail and commercial banking, corporate finance, credit cards, securities brokerage and investment banking, insurance, asset management, consumer finance, and savings banking.