KB Financial Group (NYSE:KB) Shares Gap Up - Here's What Happened

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 before the market opened 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 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, Based on data from MarketBeat, the stock has an average rating of "Buy".

KB Financial Group Price Performance

The stock has a market cap of $32.82 billion, a PE ratio of 8.27, a P/E/G ratio of 0.65 and a beta of 1.07. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.67 and a quick ratio of 1.67. The firm's 50 day moving average price is $81.50 and its two-hundred day moving average price is $70.73.

KB Financial Group (NYSE:KB - Get Free Report) last announced its quarterly 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. The firm had revenue of $3.32 billion for the quarter, compared to analysts' expectations of $3.20 billion. KB Financial Group had a return on equity of 9.79% and a net margin of 16.16%. On average, research analysts expect that KB Financial Group Inc will post 8.87 earnings per share for the current year.

KB Financial Group Dividend Announcement

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

Hedge Funds Weigh In On KB Financial Group

Institutional investors have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. bought a new position in shares of KB Financial Group during the second quarter valued at $25,000. Parkside Financial Bank & Trust lifted its position in shares of KB Financial Group by 585.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 336 shares of the bank's stock valued at $28,000 after buying an additional 287 shares in the last quarter. Bruce G. Allen Investments LLC lifted its position in shares of KB Financial Group by 141.8% during the 1st quarter. Bruce G. Allen Investments LLC now owns 926 shares of the bank's stock valued at $50,000 after buying an additional 543 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of KB Financial Group by 817.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 771 shares of the bank's stock valued at $64,000 after buying an additional 687 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in KB Financial Group by 10,875.0% in 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 in the last quarter. 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.