KBC Group SA (OTCMKTS:KBCSY) Shares Shorted: Short Interest Up 96.6% in October

Key Points

• Short interest nearly doubled in October, rising 96.6% to 10,487 shares as of October 15, though that represents approximately 0.0% of KBC Group’s shares and only 0.2 days of average trading volume.
• Analyst sentiment is mixed: Citigroup upgraded the stock to “buy” and Jefferies initiated coverage with a “buy” rating, while the overall consensus remains “Hold” based on three Buy, three Hold, and one Sell rating.
• KBC Group opened at $63.66, below its 50-day and 200-day moving averages, while its latest quarterly results exceeded expectations with earnings of $1.64 per share and revenue of $3.96 billion.

KBC Group SA (OTCMKTS:KBCSY - Get Free Report) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 10,487 shares, a growth of 96.6% from the September 30th total of 5,334 shares. Based on an average daily volume of 42,860 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are sold short.

Analyst Ratings Changes

KBCSY has been the topic of a number of recent research reports. Jefferies Financial Group assumed coverage on KBC Group in a research note on Wednesday, September 16th. They set a "buy" rating on the stock. Royal Bank Of Canada reissued a "sector perform" rating on shares of KBC Group in a report on Monday, August 10th. Finally, Citigroup upgraded KBC Group from a "hold" rating to a "buy" rating in a research note on Thursday, October 22nd. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold".

KBC Group Price Performance

Shares of OTCMKTS:KBCSY opened at $63.66 on Friday. The business's 50 day simple moving average is $71.98 and its 200 day simple moving average is $68.63. KBC Group has a 1 year low of $58.60 and a 1 year high of $78.02. The company has a market capitalization of $53.18 billion, a P/E ratio of 12.10, a P/E/G ratio of 0.84 and a beta of 0.64.

KBC Group (OTCMKTS:KBCSY - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.05. The firm had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.83 billion. KBC Group had a return on equity of 13.42% and a net margin of 15.58%. On average, sell-side analysts anticipate that KBC Group will post 5.58 EPS for the current fiscal year.

About KBC Group

KBC Group is a Belgian financial services group headquartered in Brussels. It operates as an integrated bank-insurance organization, combining banking and insurance activities through closely connected distribution networks and digital channels.

The group provides retail, business and private banking services, including current and savings accounts, lending, payments, investment products, asset management and financial advice. Its insurance operations offer life and non-life coverage, including products for individuals, families and businesses.

KBC serves customers primarily in Belgium and selected Central and Eastern European markets, including the Czech Republic, Slovakia, Hungary and Bulgaria.

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