KB Financial Group Inc $KB Shares Bought by Bank of America Corp DE

Key Points

• Bank of America increased its KB Financial Group stake by 20.3% in the first quarter, adding 180,590 shares to own 1.07 million shares valued at approximately $106.6 million.
• Other institutional investors, including Lazard, Morgan Stanley and Capital International Investors, also raised their positions; institutions collectively own 11.52% of KB Financial Group.
• Analysts maintain a positive outlook, with the stock holding an average “Buy” rating. KB shares opened at $123.97, near their 52-week high of $125.66, with a market capitalization of about $44 billion.

Bank of America Corp DE grew its stake in KB Financial Group Inc (NYSE:KB - Free Report) by 20.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,068,416 shares of the bank's stock after acquiring an additional 180,590 shares during the quarter. Bank of America Corp DE owned about 0.29% of KB Financial Group worth $106,553,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Lazard Asset Management LLC grew its position in KB Financial Group by 2.8% in the first quarter. Lazard Asset Management LLC now owns 1,457,537 shares of the bank's stock worth $145,360,000 after acquiring an additional 39,764 shares during the period. Morgan Stanley lifted its position in KB Financial Group by 4.0% in the fourth quarter. Morgan Stanley now owns 1,080,052 shares of the bank's stock valued at $92,928,000 after buying an additional 41,587 shares during the last quarter. Capital International Investors boosted its stake in KB Financial Group by 0.6% during the fourth quarter. Capital International Investors now owns 761,913 shares of the bank's stock worth $65,637,000 after buying an additional 4,745 shares during the period. M&T Bank Corp acquired a new stake in shares of KB Financial Group during the fourth quarter valued at about $36,964,000. Finally, Orbis Allan Gray Ltd increased its position in shares of KB Financial Group by 4.0% during the fourth quarter. Orbis Allan Gray Ltd now owns 378,785 shares of the bank's stock valued at $32,591,000 after acquiring an additional 14,637 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on KB shares. Weiss Ratings restated a "buy (b)" rating on shares of KB Financial Group in a report on Wednesday, June 24th. Zacks Research raised shares of KB Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of KB Financial Group in a research note on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. Based on data from MarketBeat.com, KB Financial Group currently has an average rating of "Buy".

KB Financial Group Stock Performance

Shares of KB stock opened at $123.97 on Friday. The stock's 50-day moving average price is $111.97 and its 200 day moving average price is $107.07. KB Financial Group Inc has a 52-week low of $76.31 and a 52-week high of $125.66. The stock has a market capitalization of $43.97 billion, a PE ratio of 11.13, a price-to-earnings-growth ratio of 0.73 and a beta of 1.01. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.47.

KB Financial Group Company Profile

KB Financial Group Inc is a South Korea-based financial holding company that offers a broad range of banking and financial services. Headquartered in Seoul and listed on the New York Stock Exchange under the ticker KB, the group operates through a set of specialized subsidiaries to provide integrated financial solutions for retail, corporate and institutional clients.

The company's principal businesses include retail and corporate banking, securities and investment banking, insurance (life and non-life), asset management, credit card and consumer finance, and leasing.

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