KB Financial Group (NYSE:KB) Shares Gap Up – Here’s What Happened

KB Financial Group Inc (NYSE:KB)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $102.58, but opened at $108.70. KB Financial Group shares last traded at $109.6410, with a volume of 24,799 shares.

Analysts Set New Price Targets

A number of research firms recently weighed in on KB. Wall Street Zen downgraded KB Financial Group from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings reissued a “buy (b)” rating on shares of KB Financial Group in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of KB Financial Group in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

KB Financial Group Stock Up 6.5%

The stock’s 50-day moving average price is $105.42 and its 200-day moving average price is $101.16. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 2.47. The stock has a market cap of $38.75 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 0.64 and a beta of 1.01.

KB Financial Group (NYSE:KB) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $2.16 earnings per share for the quarter. KB Financial Group had a net margin of 17.36% and a return on equity of 9.99%. The company had revenue of $3.49 billion during the quarter. On average, sell-side analysts expect that KB Financial Group Inc will post 11.93 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KB. Brown Brothers Harriman & Co. lifted its stake in shares of KB Financial Group by 131.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 403 shares of the bank’s stock valued at $35,000 after purchasing an additional 229 shares during the period. Kestra Advisory Services LLC acquired a new stake in KB Financial Group during the fourth quarter worth approximately $39,000. Leonteq Securities AG bought a new stake in KB Financial Group in the fourth quarter worth approximately $43,000. Triumph Capital Management acquired a new position in KB Financial Group in the third quarter valued at approximately $46,000. Finally, Bell Investment Advisors Inc boosted its holdings in shares of KB Financial Group by 29.3% during the 1st quarter. Bell Investment Advisors Inc now owns 477 shares of the bank’s stock worth $48,000 after buying an additional 108 shares in the last quarter. 11.52% of the stock is owned by institutional investors.

About KB Financial Group

KB Financial Group Inc is a South Korea-based financial holding company that offers a broad range of banking and financial services. Headquartered in Seoul and listed on the New York Stock Exchange under the ticker KB, the group operates through a set of specialized subsidiaries to provide integrated financial solutions for retail, corporate and institutional clients.

The company’s principal businesses include retail and corporate banking, securities and investment banking, insurance (life and non-life), asset management, credit card and consumer finance, and leasing.