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

Key Points

• KB Financial Group shares jumped 4.2%, opening at $132.49 versus a prior close of $126.55, and last traded near $132.19.
• Analysts remain positive: Goldman Sachs and Weiss Ratings reaffirmed buy ratings, while Zacks Research upgraded the stock to strong buy. The consensus rating is “Buy.”
• The company exceeded quarterly expectations, reporting $3.67 in EPS versus the $3.51 consensus and revenue of $3.49 billion versus $3.45 billion expected; institutional investors own 11.52% of its shares.

KB Financial Group Inc (NYSE:KB - Get Free Report) shares gapped up prior to trading on Friday . The stock had previously closed at $126.55, but opened at $132.49. KB Financial Group shares last traded at $132.1910, with a volume of 11,319 shares traded.

Analyst Upgrades and Downgrades

KB has been the topic of a number of research analyst reports. The Goldman Sachs Group reiterated a "buy" rating on shares of KB Financial Group in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of KB Financial Group in a research note on Wednesday, June 24th. Finally, Zacks Research upgraded shares of KB Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy".

KB Financial Group Trading Up 4.2%

The business has a 50 day moving average of $120.31 and a 200-day moving average of $110.51. The stock has a market cap of $46.78 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 0.76 and a beta of 1.02. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 2.53.

KB Financial Group (NYSE:KB - Get Free Report) last released its quarterly 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 return on equity of 10.11% and a net margin of 17.67%.The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.45 billion. On average, analysts anticipate that KB Financial Group Inc will post 12.91 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its stake in shares of KB Financial Group by 131.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 403 shares of the bank's stock valued at $35,000 after buying an additional 229 shares during the period. Kestra Advisory Services LLC purchased a new stake in KB Financial Group in the 4th quarter worth approximately $39,000. Bell Investment Advisors Inc grew its stake in KB Financial Group by 29.3% in the 1st quarter. Bell Investment Advisors Inc now owns 477 shares of the bank's stock worth $48,000 after acquiring an additional 108 shares during the period. First Horizon Corp raised its holdings in KB Financial Group by 36.2% in the 1st quarter. First Horizon Corp now owns 489 shares of the bank's stock valued at $49,000 after acquiring an additional 130 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in shares of KB Financial Group by 90.0% during the 1st quarter. V Square Quantitative Management LLC now owns 496 shares of the bank's stock worth $49,000 after purchasing an additional 235 shares during the period. 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 network of subsidiaries that provide banking, securities, insurance, asset management, credit card, consumer finance and other financial services to individuals, businesses and institutional clients.

Its principal subsidiary, KB Kookmin Bank, offers deposit accounts, lending, wealth management, foreign exchange, payments and corporate banking services.

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