KB Financial Group (KB) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of KB Financial Group (NYSE:KB) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The firm currently has $70.00 price target on the bank’s stock.

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 KB Financial Group from a b- rating to a c rating in a research note on Monday, November 27th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $70.00.

KB Financial Group (NYSE:KB) traded up $1.69 during trading on Thursday, hitting $63.64. The stock had a trading volume of 113,856 shares, compared to its average volume of 100,045. The stock has a market cap of $25,519.83, a PE ratio of 9.88, a P/E/G ratio of 0.45 and a beta of 1.20. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.61 and a current ratio of 1.61. KB Financial Group has a 12 month low of $38.13 and a 12 month high of $63.96.

Several institutional investors have recently added to or reduced their stakes in KB. Hermes Investment Management Ltd. purchased a new position in shares of KB Financial Group during the 3rd quarter valued at approximately $8,757,000. Arrowstreet Capital Limited Partnership lifted its stake in KB Financial Group by 49.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 357,279 shares of the bank’s stock worth $18,039,000 after purchasing an additional 118,515 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in KB Financial Group by 122.5% during the third quarter. Russell Investments Group Ltd. now owns 126,239 shares of the bank’s stock worth $6,190,000 after purchasing an additional 69,500 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in KB Financial Group during the third quarter worth $2,973,000. Finally, Northern Trust Corp lifted its stake in KB Financial Group by 3.9% during the second quarter. Northern Trust Corp now owns 1,168,613 shares of the bank’s stock worth $59,004,000 after purchasing an additional 43,788 shares during the last quarter. Institutional investors own 5.92% of the company’s stock.

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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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