KB Financial Group (NYSE:KB) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• KB Financial Group shares fell below their 200-day moving average of $111.53 on Tuesday, trading as low as $110.55 and last at $110.805.
• Analyst views remain positive overall: MarketBeat reports a consensus Buy rating, including one Strong Buy and two Buy ratings, despite a downgrade from Weiss Ratings and an upgrade from Zacks Research.
• The bank’s latest reported quarterly results beat estimates, with EPS of $3.67 versus $3.51 expected and revenue of $3.49 billion versus $3.45 billion forecast.

KB Financial Group Inc (NYSE:KB - Get Free Report) passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $111.53 and traded as low as $110.55. KB Financial Group shares last traded at $110.8050, with a volume of 246,773 shares traded.

Analysts Set New Price Targets

KB has been the subject of a number of analyst reports. Weiss Ratings downgraded KB Financial Group from a "buy (b+)" rating to a "buy (b)" rating in a research note on Monday, October 26th. Zacks Research upgraded KB Financial Group from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy".

KB Financial Group Price Performance

The stock has a market cap of $39.30 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.64 and a beta of 1.09. The company's 50 day moving average is $122.84 and its 200 day moving average is $111.53. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.64 and a quick ratio of 1.64.

KB Financial Group (NYSE:KB - Get Free Report) last issued its earnings results on Friday, August 14th. The bank reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.51 by $0.16. KB Financial Group had a net margin of 17.67% and a return on equity of 10.11%. The company had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.45 billion. Research analysts forecast that KB Financial Group Inc will post 13.98 earnings per share for the current fiscal year.

Institutional Investors Weigh In On KB Financial Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Calamos Wealth Management LLC boosted its position in shares of KB Financial Group by 11.6% in the 3rd quarter. Calamos Wealth Management LLC now owns 46,762 shares of the bank's stock worth $5,756,000 after buying an additional 4,854 shares in the last quarter. Syverson Strege & Co purchased a new position in KB Financial Group during the 3rd quarter valued at about $220,000. Commonwealth Equity Services LLC purchased a new position in KB Financial Group during the 3rd quarter valued at about $231,000. Richardson Financial Services Inc. increased its holdings in KB Financial Group by 37.7% during the 3rd quarter. Richardson Financial Services Inc. now owns 727 shares of the bank's stock valued at $89,000 after acquiring an additional 199 shares in the last quarter. Finally, Ascent Group LLC increased its holdings in KB Financial Group by 24.6% during the 3rd quarter. Ascent Group LLC now owns 2,832 shares of the bank's stock valued at $349,000 after acquiring an additional 560 shares in the last quarter. Institutional investors and hedge funds own 11.52% of the company's stock.

KB Financial Group Company Profile

KB Financial Group Inc is a South Korean financial holding company headquartered in Seoul. Established in 2008, the group operates through a broad network of financial subsidiaries led by KB Kookmin Bank, one of South Korea's major commercial banks. Its American depositary shares trade on the New York Stock Exchange under the symbol “KB.”

KB Financial Group provides a wide range of financial products and services, including retail and commercial banking, corporate finance, credit cards, securities brokerage and investment banking, insurance, asset management, consumer finance, and savings banking.

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