KB Financial Group (NYSE:KB) Shares Gap Down – Here’s Why

Shares of KB Financial Group Inc (NYSE:KB) gapped down prior to trading on Thursday . The stock had previously closed at $95.08, but opened at $92.42. KB Financial Group shares last traded at $92.7850, with a volume of 34,534 shares trading hands.

Analyst Upgrades and Downgrades

KB has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of KB Financial Group in a report on Monday, December 29th. Zacks Research cut KB Financial Group from a “hold” rating to a “strong sell” rating in a report on Thursday, December 18th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

KB Financial Group Stock Down 2.7%

The stock has a market cap of $35.29 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 0.68 and a beta of 1.12. The stock has a 50 day simple moving average of $86.49 and a 200 day simple moving average of $83.64. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 2.38.

Hedge Funds Weigh In On KB Financial Group

A number of hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC raised 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 valued at $128,357,000 after purchasing an additional 26,423 shares during the last quarter. Bank of America Corp DE grew its position in KB Financial Group by 4.3% in the 3rd quarter. Bank of America Corp DE now owns 882,277 shares of the bank’s stock worth $73,150,000 after purchasing an additional 36,710 shares in the last quarter. American Century Companies Inc. increased its stake in KB Financial Group by 11.4% in the 3rd quarter. American Century Companies Inc. now owns 836,990 shares of the bank’s stock valued at $69,395,000 after buying an additional 85,822 shares during the last quarter. Capital International Investors lifted its position in shares of KB Financial Group by 12.7% during the 3rd quarter. Capital International Investors now owns 757,168 shares of the bank’s stock worth $62,735,000 after buying an additional 85,231 shares in the last quarter. Finally, Todd Asset Management LLC boosted its stake in shares of KB Financial Group by 5.9% in the 3rd quarter. Todd Asset Management LLC now owns 560,017 shares of the bank’s stock worth $46,432,000 after buying an additional 31,230 shares during the last quarter. 11.52% of the stock is 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.