KB Financial Group (KB) Lifted 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 report published on Wednesday. Zacks Investment Research currently has $62.00 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. “

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Separately, ValuEngine lowered shares of KB Financial Group from a strong-buy rating to a buy rating in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $62.00.

Shares of KB stock opened at $54.44 on Wednesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 2.17. KB Financial Group has a 1-year low of $41.10 and a 1-year high of $63.96. The stock has a market cap of $22,363.94, a price-to-earnings ratio of 7.33 and a beta of 1.32.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its stake in shares of KB Financial Group by 101.9% in the fourth quarter. Glenmede Trust Co. NA now owns 2,013 shares of the bank’s stock valued at $116,000 after purchasing an additional 1,016 shares during the period. Icon Wealth Partners LLC purchased a new position in KB Financial Group in the fourth quarter worth approximately $142,000. We Are One Seven LLC purchased a new position in KB Financial Group in the fourth quarter worth approximately $187,000. Checchi Capital Advisers LLC purchased a new position in KB Financial Group in the fourth quarter worth approximately $213,000. Finally, BB&T Securities LLC purchased a new position in KB Financial Group in the fourth quarter worth approximately $232,000. 5.77% of the stock is owned by institutional investors and hedge funds.

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About KB Financial Group

KB Financial Group Inc, a financial holding company, provides various banking and related financial services to individuals and corporations in South Korea and internationally. It operates through six 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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