Itau Unibanco Holding S.A. Purchases Shares of 15,362 KB Financial Group Inc $KB

Key Points

• Itau Unibanco Holding S.A. purchased 15,362 shares of KB Financial Group Inc, amounting to approximately $831,000, as part of its investment strategy during the first quarter.
• KB Financial Group's stock was recently downgraded from a “buy” to a “hold” rating by Wall Street Zen, although it still holds an average rating of “buy” from analysts.
• The company reported earnings per share of $3.16 in its latest quarter, exceeding the consensus estimate of $3.15, with total revenue of $3.32 billion.

Itau Unibanco Holding S.A. purchased a new stake in KB Financial Group Inc (NYSE:KB - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 15,362 shares of the bank's stock, valued at approximately $831,000.

Other hedge funds have also made changes to their positions in the company. Bruce G. Allen Investments LLC raised its stake in shares of KB Financial Group by 141.8% in the 1st quarter. Bruce G. Allen Investments LLC now owns 926 shares of the bank's stock valued at $50,000 after acquiring an additional 543 shares during the period. Tower Research Capital LLC TRC increased 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 worth $137,000 after buying an additional 2,097 shares during the period. Cetera Investment Advisers increased 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 worth $214,000 after buying an additional 258 shares during the period. Cresset Asset Management LLC purchased a new stake in KB Financial Group during the 1st quarter worth $207,000. Finally, Perigon Wealth Management LLC purchased a new stake in KB Financial Group during the 1st quarter worth $214,000. Hedge funds and other institutional investors own 11.52% of the company's stock.

Analyst Ratings Changes

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 analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy".

KB Financial Group Price Performance

Shares of NYSE:KB traded down $0.77 during midday trading on Tuesday, reaching $77.89. 40,337 shares of the company's stock were exchanged, compared to its average volume of 194,331. KB Financial Group Inc has a 12 month low of $46.38 and a 12 month high of $92.39. The firm has a market capitalization of $29.71 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 0.60 and a beta of 1.07. The company's 50 day simple moving average is $81.95 and its two-hundred day simple moving average is $69.24. The company has a debt-to-equity ratio of 2.36, a quick ratio of 1.67 and a current ratio of 1.67.

KB Financial Group (NYSE:KB - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The bank reported $3.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.20 billion. Equities research analysts expect that KB Financial Group Inc will post 8.87 earnings per share for the current fiscal year.

KB Financial Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 8th were given a dividend of $0.657 per share. The ex-dividend date was Friday, August 8th. This represents a $2.63 annualized dividend and a dividend yield of 3.4%. KB Financial Group's payout ratio is currently 20.37%.

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.