Cresset Asset Management LLC Purchases New Position 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 bought a new stake in shares of KB Financial Group Inc (NYSE:KB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,828 shares of the bank's stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in KB. Wealth Enhancement Advisory Services LLC boosted its position in shares of KB Financial Group by 8.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 26,348 shares of the bank's stock worth $1,426,000 after acquiring an additional 2,135 shares during the last quarter. QRG Capital Management Inc. boosted its stake in KB Financial Group by 9.2% during the first quarter. QRG Capital Management Inc. now owns 13,395 shares of the bank's stock worth $725,000 after buying an additional 1,126 shares during the period. Perigon Wealth Management LLC purchased a new stake in KB Financial Group in the 1st quarter worth about $214,000. Deutsche Bank AG purchased a new stake in shares of KB Financial Group in the fourth quarter worth approximately $1,149,000. Finally, Victory Capital Management Inc. boosted its stake in shares of KB Financial Group by 27.3% during the first quarter. Victory Capital Management Inc. now owns 15,620 shares of the bank's stock valued at $845,000 after purchasing an additional 3,345 shares during the period. 11.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded KB Financial Group from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy".

KB Financial Group Price Performance

Shares of KB traded down $0.68 during mid-day trading on Friday, reaching $78.63. 92,735 shares of the company's stock were exchanged, compared to its average volume of 158,374. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 2.36. The company has a market cap of $30.00 billion, a price-to-earnings ratio of 7.55, a PEG ratio of 0.61 and a beta of 1.06. The company has a 50-day simple moving average of $81.95 and a two-hundred day simple moving average of $68.91. KB Financial Group Inc has a 52-week low of $46.38 and a 52-week high of $92.39.

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

KB Financial Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 8th will be paid a dividend of $0.657 per share. This represents a $2.63 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Friday, August 8th. KB Financial Group's payout ratio is presently 20.37%.

About KB Financial Group

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.