Zacks Investment Research upgraded shares of KB Financial Group (NYSE:KB) from a hold rating to a buy rating in a report released on Tuesday. Zacks Investment Research currently has $66.00 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 downgraded KB Financial Group from a b- rating to a c rating in a report on Monday, November 27th.
A number of hedge funds have recently modified their holdings of KB. Wells Fargo & Company MN increased its holdings in KB Financial Group by 33.6% in the fourth quarter. Wells Fargo & Company MN now owns 504,824 shares of the bank’s stock worth $29,537,000 after purchasing an additional 126,914 shares in the last quarter. Assetmark Inc. increased its holdings in KB Financial Group by 393.5% in the fourth quarter. Assetmark Inc. now owns 102,094 shares of the bank’s stock worth $5,974,000 after purchasing an additional 81,406 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in KB Financial Group by 122.5% in 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 in the last quarter. Hermes Investment Management Ltd. increased its holdings in KB Financial Group by 32.7% in the fourth quarter. Hermes Investment Management Ltd. now owns 237,002 shares of the bank’s stock worth $13,867,000 after purchasing an additional 58,398 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in KB Financial Group in the fourth quarter worth approximately $2,521,000. Institutional investors and hedge funds own 5.76% 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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