KB Financial Group (NYSE:KB) Shares Gap Down - Should You Sell?

Key Points

• KB Financial Group shares opened significantly lower at $78.37, down from a previous close of $81.88, and were last traded at $77.80.
• Wall Street analysts downgraded KB Financial from a “buy” to a “hold” rating amid market concerns.
• The company reported a quarterly EPS of $3.16, slightly above analyst expectations, and predicts a growth in EPS to 8.87 for the current fiscal year.

Shares of KB Financial Group Inc (NYSE:KB - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $81.88, but opened at $78.37. KB Financial Group shares last traded at $77.80, with a volume of 31,366 shares changing hands.

Wall Street Analyst Weigh In

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, the company has an average rating of "Buy".

KB Financial Group Price Performance

The company has a market cap of $30.46 billion, a PE ratio of 7.67, a price-to-earnings-growth ratio of 0.60 and a beta of 1.06. The business's 50 day moving average price is $81.98 and its 200-day moving average price is $68.23. The company has a quick ratio of 1.68, a current ratio of 1.67 and a debt-to-equity ratio of 2.36.

KB Financial Group (NYSE:KB - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The bank reported $3.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.15 by $0.01. The company had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.20 billion. KB Financial Group had a net margin of 16.16% and a return on equity of 9.79%. As a group, analysts forecast that KB Financial Group Inc will post 8.87 earnings per share for the current year.

Institutional Trading of KB Financial Group

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. increased its stake in shares of KB Financial Group by 46.2% in the fourth quarter. JPMorgan Chase & Co. now owns 18,293 shares of the bank's stock worth $1,041,000 after buying an additional 5,783 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of KB Financial Group by 26.1% in the fourth quarter. NewEdge Advisors LLC now owns 12,787 shares of the bank's stock worth $728,000 after buying an additional 2,650 shares during the last quarter. First Trust Advisors LP bought a new stake in shares of KB Financial Group in the fourth quarter worth $1,466,000. Tower Research Capital LLC TRC increased its stake in shares of KB Financial Group by 659.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,415 shares of the bank's stock worth $137,000 after buying an additional 2,097 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of KB Financial Group by 310.0% in the fourth quarter. Northern Trust Corp now owns 912,529 shares of the bank's stock worth $51,923,000 after buying an additional 689,979 shares during the last quarter. Hedge funds and other institutional investors own 11.52% of the company's stock.

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.