KB Financial Group (NYSE:KB) Hits New 52-Week High – Here’s Why

KB Financial Group Inc (NYSE:KB) shares reached a new 52-week high on Wednesday . The stock traded as high as $93.50 and last traded at $93.3470, with a volume of 9268 shares changing hands. The stock had previously closed at $90.09.

Analyst Upgrades and Downgrades

KB has been the subject of several research reports. Zacks Research downgraded KB Financial Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, December 18th. Weiss Ratings reiterated a “buy (b)” rating on shares of KB Financial Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold”.

KB Financial Group Price Performance

The company has a debt-to-equity ratio of 2.38, a current ratio of 1.65 and a quick ratio of 1.65. The company has a fifty day moving average of $86.55 and a 200-day moving average of $83.70. The firm has a market cap of $35.37 billion, a P/E ratio of 8.75, a P/E/G ratio of 0.72 and a beta of 1.12.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KB. Ramirez Asset Management Inc. raised its position in shares of KB Financial Group by 24.6% in the second quarter. Ramirez Asset Management Inc. now owns 304,298 shares of the bank’s stock valued at $25,132,000 after purchasing an additional 60,056 shares during the period. Cullen Capital Management LLC grew its stake in KB Financial Group by 19.6% in the 2nd quarter. Cullen Capital Management LLC now owns 111,477 shares of the bank’s stock valued at $9,207,000 after buying an additional 18,255 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in KB Financial Group during the 2nd quarter valued at $302,000. Schroder Investment Management Group raised its holdings in KB Financial Group by 24.3% during the 2nd quarter. Schroder Investment Management Group now owns 64,244 shares of the bank’s stock valued at $5,306,000 after acquiring an additional 12,561 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in shares of KB Financial Group by 1.7% in the second quarter. Lazard Asset Management LLC now owns 1,554,154 shares of the bank’s stock worth $128,357,000 after acquiring an additional 26,423 shares during the period. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

KB Financial Group Company Profile

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.