KB Financial Group (NYSE:KB) Shares Gap Up - What's Next?

Key Points

• KB Financial Group's stock opened at $84.36, up from a previous close of $79.41, with a trading volume of 40,398 shares.
• Wall Street analysts recently downgraded KB Financial Group’s rating from "buy" to "hold", although one analyst still rates it as a "buy", resulting in an average rating of "buy".
• The company declared a quarterly dividend of $0.657 per share, representing an annualized dividend of $2.63 and a yield of 3.1%.

KB Financial Group Inc (NYSE:KB - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $79.41, but opened at $84.36. KB Financial Group shares last traded at $84.61, with a volume of 40,398 shares.

Wall Street Analysts Forecast Growth

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

KB Financial Group Trading Up 1.7%

The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 2.36. The stock's fifty day moving average price is $81.50 and its 200 day moving average price is $70.53. The stock has a market cap of $32.58 billion, a PE ratio of 8.20, a PEG ratio of 0.64 and a beta of 1.07.

KB Financial Group (NYSE:KB - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The bank reported $3.16 earnings per share for the quarter, topping the consensus estimate of $3.15 by $0.01. 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 for the quarter, compared to the consensus estimate of $3.20 billion. On average, sell-side analysts forecast that KB Financial Group Inc will post 8.87 EPS for the current year.

KB Financial Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 8th were given a dividend of $0.657 per share. This represents a $2.63 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, August 8th. KB Financial Group's dividend payout ratio (DPR) is presently 20.37%.

Institutional Trading of KB Financial Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers raised its position in shares of KB Financial Group by 7.4% during the 4th quarter. Cetera Investment Advisers now owns 3,759 shares of the bank's stock valued at $214,000 after purchasing an additional 258 shares during the period. PDS Planning Inc raised its position in shares of KB Financial Group by 3.5% during the 1st quarter. PDS Planning Inc now owns 8,024 shares of the bank's stock valued at $434,000 after purchasing an additional 271 shares during the period. US Bancorp DE grew its stake in KB Financial Group by 1.3% during the first quarter. US Bancorp DE now owns 20,442 shares of the bank's stock valued at $1,106,000 after acquiring an additional 272 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in KB Financial Group by 585.7% during the second quarter. Parkside Financial Bank & Trust now owns 336 shares of the bank's stock valued at $28,000 after acquiring an additional 287 shares in the last quarter. Finally, First Horizon Advisors Inc. purchased a new position in KB Financial Group during the second quarter valued at $25,000. 11.52% of the stock is currently owned by 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.