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

Key Points

• KB Financial Group shares gapped up, opening at $118.73 versus the prior close of $113.39, and were last quoted at $117.61.
• Analyst opinions remain positive overall, with MarketBeat reporting an average Buy rating; Zacks upgraded the shares to Strong Buy while Weiss Ratings slightly downgraded its rating.
• The bank’s latest reported quarter beat estimates: earnings were $3.67 per share versus $3.51 expected, and revenue was $3.49 billion versus $3.45 billion expected.

KB Financial Group Inc (NYSE:KB - Get Free Report) gapped up before the market opened on Friday. The stock had previously closed at $113.39, but opened at $118.73. KB Financial Group shares last traded at $117.61, with a volume of 27,121 shares.

Analyst Ratings Changes

A number of equities analysts recently weighed in on KB shares. Weiss Ratings downgraded shares of KB Financial Group from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, October 26th. Zacks Research upgraded shares of KB Financial Group from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy".

KB Financial Group Price Performance

The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 2.53. The business's fifty day moving average is $121.47 and its 200 day moving average is $112.27. The company has a market cap of $41.60 billion, a P/E ratio of 10.07, a PEG ratio of 0.66 and a beta of 1.09.

KB Financial Group (NYSE:KB - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The bank reported $3.67 earnings per share for the quarter, beating 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 business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.45 billion. As a group, sell-side analysts anticipate that KB Financial Group Inc will post 13.85 EPS for the current year.

Institutional Investors Weigh In On KB Financial Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Essex Financial Services Inc. purchased a new stake in KB Financial Group during the third quarter valued at about $203,000. Advisors Asset Management Inc. purchased a new stake in shares of KB Financial Group during the 3rd quarter valued at approximately $5,227,000. Private Advisor Group LLC purchased a new stake in shares of KB Financial Group during the 3rd quarter valued at approximately $294,000. Boston Partners lifted its stake in shares of KB Financial Group by 22.6% during the 3rd quarter. Boston Partners now owns 103,946 shares of the bank's stock valued at $12,804,000 after buying an additional 19,171 shares in the last quarter. Finally, OneAscent Family Office LLC boosted its holdings in KB Financial Group by 35.6% in the 3rd quarter. OneAscent Family Office LLC now owns 3,493 shares of the bank's stock worth $430,000 after buying an additional 917 shares during the period. 11.52% of the stock is currently owned by institutional investors.

About KB Financial Group

KB Financial Group Inc. is a South Korean financial holding company headquartered in Seoul. Established in 2008, it brings together businesses serving individual, corporate and institutional customers, with operations centered primarily in South Korea and an international presence through overseas offices and subsidiaries. Its businesses include commercial and retail banking through KB Kookmin Bank, as well as securities and investment banking, insurance, credit cards, asset management, and consumer and corporate finance.

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