KB Financial Group (NYSE:KB) Hits New 1-Year High - Time to Buy?

Key Points

• KB Financial Group shares reached a new 52-week high, trading as high as $125.66 and closing recently at $124.07, up from $121.32.
• Analyst sentiment is positive: Zacks Research upgraded the stock to “strong buy,” while Weiss Ratings and Goldman Sachs maintained “buy” ratings; the overall consensus is “Buy.”
• Institutional ownership stands at 11.52%, with several investment firms increasing their positions during the first and second quarters.

KB Financial Group Inc (NYSE:KB - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $125.66 and last traded at $124.0690, with a volume of 11949 shares changing hands. The stock had previously closed at $121.32.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Zacks Research raised KB Financial Group from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of KB Financial Group in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of KB Financial Group in a research report on Wednesday, July 1st. 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 data from MarketBeat, the company has a consensus rating of "Buy".

KB Financial Group Stock Up 1.6%

The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 2.47. The company has a market capitalization of $43.74 billion, a P/E ratio of 11.05, a PEG ratio of 0.72 and a beta of 1.01. The stock has a 50 day moving average price of $111.51 and a 200 day moving average price of $106.95.

Hedge Funds Weigh In On KB Financial Group

Large investors have recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in KB Financial Group in the 1st quarter valued at approximately $300,000. Dynamic Technology Lab Private Ltd acquired a new stake in KB Financial Group during the 1st quarter worth approximately $259,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in KB Financial Group by 53.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,650 shares of the bank's stock worth $5,230,000 after acquiring an additional 33,650 shares during the last quarter. Jane Street Group LLC grew its holdings in KB Financial Group by 64.3% during the 1st quarter. Jane Street Group LLC now owns 26,136 shares of the bank's stock worth $1,414,000 after acquiring an additional 10,225 shares during the last quarter. Finally, Cetera Investment Advisers increased its position in KB Financial Group by 66.4% in the 2nd quarter. Cetera Investment Advisers now owns 8,584 shares of the bank's stock valued at $709,000 after acquiring an additional 3,425 shares during the period. 11.52% of the stock is currently owned by institutional investors.

About KB Financial Group

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source