KBC Group SA (OTCMKTS:KBCSY) Shares Shorted: Short Interest Up 54.8% in September

Key Points

• Short interest in KBC Group rose 54.8% to 5,334 shares as of September 30, though short positions represented approximately 0.0% of shares outstanding and only 0.2 days of average trading volume.
• Analyst sentiment remains mixed, with two Buy ratings, four Holds and one Sell; MarketBeat’s consensus rating is Hold.
• KBC Group shares edged up 0.1% to $67.81, while the company’s latest quarterly results exceeded expectations with EPS of $1.64 versus a $1.59 consensus and revenue of $3.96 billion versus $3.83 billion expected.

KBC Group SA (OTCMKTS:KBCSY - Get Free Report) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 5,334 shares, an increase of 54.8% from the September 15th total of 3,445 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 28,641 shares, the short-interest ratio is presently 0.2 days.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Citigroup reissued a "neutral" rating on shares of KBC Group in a research note on Tuesday, September 29th. Royal Bank Of Canada reiterated a "sector perform" rating on shares of KBC Group in a report on Monday, August 10th. Finally, Jefferies Financial Group initiated coverage on shares of KBC Group in a report on Wednesday, September 16th. They issued a "buy" rating on the stock. Two research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold".

KBC Group Stock Up 0.1%

Shares of OTCMKTS:KBCSY traded up $0.04 during mid-day trading on Friday, reaching $67.81. 4,036 shares of the stock were exchanged, compared to its average volume of 28,068. The company has a market cap of $56.64 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.85 and a beta of 0.64. The stock's 50 day simple moving average is $74.26 and its 200-day simple moving average is $69.68. KBC Group has a one year low of $57.78 and a one year high of $78.02.

KBC Group (OTCMKTS:KBCSY - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.64 EPS for the quarter, topping analysts' consensus estimates of $1.59 by $0.05. KBC Group had a net margin of 15.58% and a return on equity of 13.42%. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.83 billion. Analysts anticipate that KBC Group will post 5.85 EPS for the current fiscal year.

About KBC Group

KBC Group is a Belgium-based financial services group that combines banking and insurance activities. Through its banking and insurance subsidiaries, the company serves individuals, households, small and medium-sized enterprises, corporate clients and private banking customers.

KBC's main services include current and savings accounts, consumer and residential lending, business finance, investment and wealth management, payments, and a range of life and non-life insurance products. The group distributes its services through bank branches, insurance agencies and digital channels, including integrated banking and insurance platforms.

The group was created in 1998 through the merger of Kredietbank, CERA Bank and ABB Insurance.

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