KBC Group (OTCMKTS:KBCSY) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of KBC Group (OTCMKTS:KBCSY) from a hold rating to a buy rating in a research note issued to investors on Friday morning, Zacks.com reports. Zacks Investment Research currently has $48.00 price objective on the stock.

According to Zacks, “KBC Group NV is an integrated bank-insurance group, catering mainly for retail, private banking, SME and mid-cap clients. Its operating segment consists of Belgium Business, Czech Republic Business, International Markets Business and Group Centre. The Belgium Business segment engages in the retail and private banc assurance activities. The Czech Republic Business segment comprises all KBC’s activities. The Group Centre segment includes the operating results of the group’s holding-company activities. The International Markets Business segment comprises the activities conducted by entities in the other Central and Eastern European core countries. KBC Group NV is headquartered in Brussels, Belgium. “

A number of other research analysts also recently commented on the company. Kepler Capital Markets raised KBC Group to a hold rating and set a $63.00 target price on the stock in a report on Monday, July 5th. JPMorgan Chase & Co. increased their target price on KBC Group from €72.00 ($84.71) to €79.00 ($92.94) and gave the stock an overweight rating in a report on Friday, August 6th. Credit Suisse Group increased their target price on KBC Group from €67.00 ($78.82) to €70.00 ($82.35) and gave the stock a neutral rating in a report on Friday, August 6th. Morgan Stanley increased their target price on KBC Group from €77.00 ($90.59) to €81.00 ($95.29) and gave the stock an equal weight rating in a report on Wednesday, August 18th. Finally, UBS Group raised KBC Group to a sell rating in a report on Monday, September 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, KBC Group presently has a consensus rating of Hold and an average target price of $66.10.

KBCSY stock opened at $40.92 on Friday. KBC Group has a 1 year low of $24.09 and a 1 year high of $42.98. The firm has a market cap of $34.10 billion, a P/E ratio of 11.27 and a beta of 1.51. The stock has a 50-day simple moving average of $41.10 and a 200-day simple moving average of $39.54.

KBC Group (OTCMKTS:KBCSY) last posted its earnings results on Thursday, August 5th. The company reported $1.13 earnings per share (EPS) for the quarter. KBC Group had a return on equity of 11.89% and a net margin of 29.36%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.14 billion. As a group, research analysts expect that KBC Group will post 3.51 EPS for the current fiscal year.

About KBC Group

KBC Group NV engages in the provision of integrated bank-insurances. It operates through the following segments: Belgium Business; Czech Republic Business; and International Markets Business Unit. The Belgium Business segment engages in the retail and private banc assurance activities in Belgium. The Czech Republic Business segment comprises all KBC’s activities in the Czech Republic.

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