KB Financial Group (NYSE:KB) Issues Quarterly Earnings Results

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) issued its earnings results on Thursday. The bank reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.15 by $0.01, Zacks reports. The company had revenue of $3.32 billion for the quarter, compared to analysts' expectations of $3.20 billion. KB Financial Group had a net margin of 16.03% and a return on equity of 9.76%.

KB Financial Group Stock Down 0.0%

Shares of KB stock traded down $0.01 during mid-day trading on Friday, hitting $81.87. 128,588 shares of the stock traded hands, compared to its average volume of 276,965. The stock has a market cap of $31.23 billion, a P/E ratio of 7.94, a P/E/G ratio of 0.63 and a beta of 1.06. The stock's fifty day moving average is $82.10 and its two-hundred day moving average is $67.66. KB Financial Group has a 52-week low of $46.38 and a 52-week high of $92.39. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.68 and a quick ratio of 1.68.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of KB Financial Group from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th.

Institutional Trading of KB Financial Group

Several hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position in KB Financial Group by 10,875.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 878 shares of the bank's stock worth $73,000 after purchasing an additional 870 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in KB Financial Group during the 1st quarter worth approximately $259,000. AQR Capital Management LLC purchased a new stake in KB Financial Group during the 1st quarter worth approximately $300,000. Evergreen Capital Management LLC purchased a new stake in KB Financial Group during the 2nd quarter worth approximately $363,000. Finally, Quantbot Technologies LP purchased a new stake in KB Financial Group during the 2nd quarter worth approximately $393,000. 11.52% of the stock is owned by hedge funds and other institutional investors.

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.

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