KB Home $KBH Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp dramatically increased its KB Home stake by 2,016.1% in the first quarter, ending with 24,864 shares worth about $1.29 million.
• KB Home reported Q2 earnings of $0.43 per share, slightly below estimates, while revenue came in at $1.11 billion; revenue was still down 27.3% year over year from the prior period.
• The company announced a quarterly dividend of $0.25 per share, payable August 20, representing an annualized dividend of $1.00 and a yield of 1.8%.

Fifth Third Bancorp raised its holdings in shares of KB Home (NYSE:KBH - Free Report) by 2,016.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,864 shares of the construction company's stock after acquiring an additional 23,689 shares during the period. Fifth Third Bancorp's holdings in KB Home were worth $1,287,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in KBH. United Services Automobile Association acquired a new stake in KB Home in the first quarter worth about $226,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of KB Home by 5.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 225,525 shares of the construction company's stock valued at $13,108,000 after acquiring an additional 11,103 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of KB Home by 23.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,530 shares of the construction company's stock valued at $134,000 after acquiring an additional 482 shares during the period. Marshall Wace LLP increased its stake in shares of KB Home by 341.2% during the second quarter. Marshall Wace LLP now owns 86,667 shares of the construction company's stock valued at $4,591,000 after acquiring an additional 67,023 shares during the period. Finally, Gamco Investors INC. ET AL bought a new stake in KB Home during the second quarter worth approximately $711,000. Institutional investors and hedge funds own 96.09% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on KBH. Truist Financial lifted their price target on KB Home from $50.00 to $56.00 and gave the company a "hold" rating in a research report on Wednesday, June 24th. Citigroup restated a "market outperform" rating on shares of KB Home in a report on Wednesday, June 17th. Barclays raised their target price on KB Home from $56.00 to $57.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. Wall Street Zen upgraded shares of KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, June 27th. Finally, Weiss Ratings upgraded shares of KB Home from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, KB Home currently has an average rating of "Hold" and a consensus target price of $60.17.

KB Home Trading Up 2.0%

NYSE KBH opened at $56.72 on Friday. KB Home has a 1-year low of $44.03 and a 1-year high of $68.71. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 19.76, a PEG ratio of 9.22 and a beta of 1.34. The stock's 50 day moving average is $54.32 and its two-hundred day moving average is $55.71.

KB Home (NYSE:KBH - Get Free Report) last announced its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.44 by ($0.01). The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. The business's revenue was down 27.3% on a year-over-year basis. During the same quarter last year, the company earned $1.50 earnings per share. On average, analysts predict that KB Home will post 3.3 earnings per share for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Thursday, August 6th will be paid a $0.25 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. KB Home's payout ratio is 34.84%.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation's largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.