NewEdge Wealth LLC Takes $1.29 Million Position in KB Financial Group Inc. (NYSE:KB)

NewEdge Wealth LLC bought a new position in KB Financial Group Inc. (NYSE:KB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 31,283 shares of the bank's stock, valued at approximately $1,294,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KB. Lazard Asset Management LLC boosted its stake in KB Financial Group by 79.8% in the 2nd quarter. Lazard Asset Management LLC now owns 2,959,952 shares of the bank's stock worth $107,741,000 after purchasing an additional 1,313,605 shares during the period. BlackRock Inc. boosted its stake in KB Financial Group by 36.1% in the 2nd quarter. BlackRock Inc. now owns 2,434,596 shares of the bank's stock worth $88,619,000 after purchasing an additional 646,184 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in KB Financial Group by 86.3% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 600,940 shares of the bank's stock worth $29,344,000 after purchasing an additional 278,345 shares during the period. Ramirez Asset Management Inc. bought a new position in KB Financial Group in the 3rd quarter worth approximately $9,278,000. Finally, Royal Bank of Canada boosted its position in shares of KB Financial Group by 263.6% during the 2nd quarter. Royal Bank of Canada now owns 301,913 shares of the bank's stock valued at $10,989,000 after acquiring an additional 218,885 shares during the last quarter. 11.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded KB Financial Group from a "hold" rating to a "buy" rating in a research report on Wednesday, March 13th.

KB Financial Group Trading Down 2.0 %

KB traded down $0.92 during trading on Tuesday, reaching $46.21. The company had a trading volume of 137,107 shares, compared to its average volume of 212,946. The stock has a market cap of $18.65 billion, a P/E ratio of 5.24, a PEG ratio of 0.38 and a beta of 1.03. The business has a 50 day simple moving average of $51.29 and a 200-day simple moving average of $44.29. KB Financial Group Inc. has a 52 week low of $35.20 and a 52 week high of $58.52. The company has a quick ratio of 1.69, a current ratio of 1.67 and a debt-to-equity ratio of 2.36.

KB Financial Group (NYSE:KB - Get Free Report) last released its earnings results on Wednesday, March 6th. The bank reported $0.43 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.21). KB Financial Group had a return on equity of 7.72% and a net margin of 12.94%. The business had revenue of $3.54 billion during the quarter. On average, equities analysts anticipate that KB Financial Group Inc. will post 9.18 EPS for the current fiscal year.

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.