KB Financial Group (NYSE:KB) Announces Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• KB Financial Group reported earnings of $3.16 per share for the quarter, exceeding the consensus estimate of $3.15 and generating $3.32 billion in revenue, also above expectations.
• Despite positive earnings results, KB Financial Group's stock fell slightly by $0.01 during mid-day trading, currently priced at $81.87.
• Wall Street analysts downgraded KB Financial Group from a "buy" rating to a "hold" rating as of August 10th, indicating a shift in market sentiment.

KB Financial Group (NYSE:KB - Get Free Report) announced its earnings results on Thursday, August 14th. The bank reported $3.16 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.01, Zacks reports. KB Financial Group had a net margin of 16.16% and a return on equity of 9.79%. The business had revenue of $3.32 billion during the quarter, compared to the consensus estimate of $3.20 billion.

KB Financial Group Stock Up 0.0%

KB stock traded up $0.0180 during mid-day trading on Thursday, hitting $78.3680. 85,800 shares of the company were exchanged, compared to its average volume of 269,575. The company has a market capitalization of $29.89 billion, a PE ratio of 7.53, a price-to-earnings-growth ratio of 0.60 and a beta of 1.06. The company has a current ratio of 1.67, a quick ratio of 1.68 and a debt-to-equity ratio of 2.36. KB Financial Group has a twelve month low of $46.38 and a twelve month high of $92.39. The firm has a fifty day simple moving average of $81.95 and a 200 day simple moving average of $68.11.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of KB Financial Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in shares of KB Financial Group by 508.9% in the 2nd quarter. Invesco Ltd. now owns 152,939 shares of the bank's stock valued at $12,631,000 after buying an additional 127,823 shares during the period. Bank of America Corp DE lifted its stake in KB Financial Group by 9.1% during the second quarter. Bank of America Corp DE now owns 845,567 shares of the bank's stock valued at $69,835,000 after purchasing an additional 70,865 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of KB Financial Group by 53.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 96,650 shares of the bank's stock valued at $5,230,000 after acquiring an additional 33,650 shares during the period. Raymond James Financial Inc. raised its position in KB Financial Group by 18.5% during the second quarter. Raymond James Financial Inc. now owns 150,464 shares of the bank's stock valued at $12,427,000 after buying an additional 23,456 shares during the period. Finally, Quantinno Capital Management LP lifted its position in KB Financial Group by 60.2% in the 2nd quarter. Quantinno Capital Management LP now owns 42,301 shares of the bank's stock worth $3,494,000 after buying an additional 15,896 shares in the last quarter. 11.52% of the stock is owned by institutional investors and hedge funds.

KB Financial Group Company 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.