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.
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.
ILLEGAL ACTIVITY WARNING: “KB Financial Group (KB) Upgraded to “Buy” at Zacks Investment Research” was first posted by Ticker Report and is the property of of Ticker Report. If you are reading this story on another domain, it was illegally stolen and reposted in violation of United States and international copyright legislation. The correct version of this story can be accessed at https://www.tickerreport.com/banking-finance/3149026/kb-financial-group-kb-upgraded-to-buy-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for KB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Financial Group and related companies with MarketBeat.com's FREE daily email newsletter.