Cresset Asset Management LLC Invests $207,000 in KB Financial Group Inc $KB

Key Points

• Cresset Asset Management LLC has acquired a new position in KB Financial Group, purchasing 3,828 shares valued at approximately $207,000 in the first quarter.
• KB Financial Group reported earnings of $3.16 per share, surpassing analyst expectations, with a revenue of $3.32 billion for the last quarter.
• Institutional investors collectively own 11.52% of KB Financial Group's stock, with several firms significantly increasing their stakes recently.

Cresset Asset Management LLC purchased a new stake in KB Financial Group Inc (NYSE:KB - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,828 shares of the bank's stock, valued at approximately $207,000.

Several other institutional investors also recently modified their holdings of KB. Bruce G. Allen Investments LLC increased its holdings in shares of KB Financial Group by 141.8% in the first quarter. Bruce G. Allen Investments LLC now owns 926 shares of the bank's stock valued at $50,000 after buying an additional 543 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in KB Financial Group by 659.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,415 shares of the bank's stock valued at $137,000 after purchasing an additional 2,097 shares during the period. Cetera Investment Advisers raised its stake in KB Financial Group by 7.4% during the 4th quarter. Cetera Investment Advisers now owns 3,759 shares of the bank's stock valued at $214,000 after purchasing an additional 258 shares during the period. Perigon Wealth Management LLC acquired a new stake in KB Financial Group during the 1st quarter valued at $214,000. Finally, Triumph Capital Management acquired a new stake in KB Financial Group during the 4th quarter valued at $228,000. Institutional investors own 11.52% of the company's stock.

KB Financial Group Stock Down 0.9%

NYSE:KB traded down $0.68 during trading hours on Monday, hitting $78.63. 92,735 shares of the stock traded hands, compared to its average volume of 145,953. KB Financial Group Inc has a fifty-two week low of $46.38 and a fifty-two week high of $92.39. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 2.36. The firm has a market cap of $30.00 billion, a price-to-earnings ratio of 7.55, a PEG ratio of 0.60 and a beta of 1.07. The firm has a 50 day moving average price of $81.95 and a 200 day moving average price of $69.24.

KB Financial Group (NYSE:KB - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The bank reported $3.16 earnings per share for the quarter, topping analysts' consensus estimates of $3.15 by $0.01. KB Financial Group had a net margin of 16.16% and a return on equity of 9.79%. The business had revenue of $3.32 billion for the quarter, compared to the consensus estimate of $3.20 billion. Equities research analysts anticipate that KB Financial Group Inc will post 8.87 earnings per share for the current year.

KB Financial Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 8th were paid a $0.657 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $2.63 dividend on an annualized basis and a dividend yield of 3.3%. KB Financial Group's dividend payout ratio is 20.37%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of KB Financial Group from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy".

KB Financial Group Profile

KB Financial Group Inc provides a range of banking and related financial services to consumers and corporations in South Korea, the United States, New Zealand, China, Cambodia, the United Kingdom, Indonesia, and internationally. The company operates through Retail Banking, Corporate Banking, Other Banking Services, Credit Card, Securities, Life Insurance, and Non-Life Insurance segments.