Royal Bank of Canada Acquires 53,952 Shares of KB Financial Group Inc $KB

Key Points

• Royal Bank of Canada increased its KB Financial Group stake by 18.7% in the first quarter, acquiring 53,952 additional shares. It now owns 342,236 shares valued at approximately $34.1 million, or 0.09% of the company.
• Other institutional investors also added positions, while institutional and hedge-fund ownership stands at 11.52% of KB Financial Group’s outstanding stock.
• Analyst sentiment is broadly positive: Weiss Ratings and Goldman Sachs reiterated “Buy” ratings, while Zacks upgraded the stock to “Strong Buy.” KB shares opened at $120.28, near their 52-week high of $125.62.

Royal Bank of Canada boosted its holdings in shares of KB Financial Group Inc (NYSE:KB - Free Report) by 18.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 342,236 shares of the bank's stock after acquiring an additional 53,952 shares during the quarter. Royal Bank of Canada owned 0.09% of KB Financial Group worth $34,131,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Calamos Advisors LLC acquired a new stake in KB Financial Group in the first quarter valued at $3,842,000. Lazard Asset Management LLC increased its stake in shares of 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 valued at $145,360,000 after buying an additional 39,764 shares during the period. WCM Investment Management LLC acquired a new position in shares of KB Financial Group in the first quarter worth approximately $24,497,000. M&T Bank Corp bought a new stake in KB Financial Group in the fourth quarter valued at approximately $36,964,000. Finally, O Shaughnessy Asset Management LLC increased its position in KB Financial Group by 8.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 139,627 shares of the bank's stock valued at $12,014,000 after purchasing an additional 10,662 shares during the period. 11.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

KB Financial Group Stock Performance

Shares of KB Financial Group stock opened at $120.28 on Tuesday. The business has a 50-day simple moving average of $110.46 and a 200 day simple moving average of $106.27. KB Financial Group Inc has a one year low of $76.31 and a one year high of $125.62. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market capitalization of $42.66 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 0.71 and a beta of 1.01.

KB Financial Group 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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