KB Financial Group (NYSE:KB) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of KB Financial Group (NYSE:KB) from a strong sell rating to a buy rating in a research report sent to investors on Saturday, Zacks.com reports. Zacks Investment Research currently has $41.00 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, Goldman Sachs Group upgraded Energizer from a neutral rating to a buy rating and raised their price objective for the company from $48.00 to $60.00 in a research note on Sunday, March 31st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. KB Financial Group presently has an average rating of Buy and an average price target of $51.00.
KB Financial Group (NYSE:KB) last issued its earnings results on Wednesday, May 15th. The bank reported $1.89 earnings per share (EPS) for the quarter. KB Financial Group had a return on equity of 8.36% and a net margin of 17.98%. The company had revenue of $2.49 billion for the quarter. Sell-side analysts expect that KB Financial Group will post 6.59 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of KB. Lazard Asset Management LLC lifted its stake in KB Financial Group by 807.9% during the 1st quarter. Lazard Asset Management LLC now owns 2,264,058 shares of the bank’s stock valued at $83,905,000 after acquiring an additional 2,014,691 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of KB Financial Group during the 1st quarter valued at $2,844,000. Thomas White International Ltd. increased its position in shares of KB Financial Group by 40.3% during the 1st quarter. Thomas White International Ltd. now owns 194,570 shares of the bank’s stock valued at $7,211,000 after purchasing an additional 55,858 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its position in shares of KB Financial Group by 96.1% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 46,121 shares of the bank’s stock valued at $1,936,000 after purchasing an additional 22,600 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of KB Financial Group by 20,706.7% during the 1st quarter. Bank of Montreal Can now owns 18,518 shares of the bank’s stock valued at $686,000 after purchasing an additional 18,429 shares during the last quarter. Institutional investors and hedge funds own 6.56% of the company’s stock.
About KB Financial Group
KB Financial Group Inc, a financial holding company, provides a range of banking and related financial services to consumers and corporations in South Korea and internationally. It operates through Corporate Banking, Retail Banking, Other Banking Services, Securities Business, Non-life Insurance Business, Credit Card Business, and Life Insurance Business segments.
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