StockNews.com Downgrades KB Financial Group (NYSE:KB) to Hold

KB Financial Group (NYSE:KBGet Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

KB Financial Group Trading Up 0.9 %

Shares of KB opened at $40.09 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 4.66, a PEG ratio of 0.33 and a beta of 0.91. The company has a 50-day moving average of $40.98 and a 200 day moving average of $38.91. KB Financial Group has a 1-year low of $35.20 and a 1-year high of $48.28.

Hedge Funds Weigh In On KB Financial Group

A number of large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew its holdings in shares of KB Financial Group by 79.8% in the second quarter. Lazard Asset Management LLC now owns 2,959,952 shares of the bank’s stock valued at $107,741,000 after purchasing an additional 1,313,605 shares during the period. BlackRock Inc. raised its holdings in KB Financial Group by 36.1% in the second quarter. BlackRock Inc. now owns 2,434,596 shares of the bank’s stock valued at $88,619,000 after acquiring an additional 646,184 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in KB Financial Group by 86.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 600,940 shares of the bank’s stock valued at $29,344,000 after purchasing an additional 278,345 shares during the last quarter. Royal Bank of Canada grew its position in shares of KB Financial Group by 263.6% during the second quarter. Royal Bank of Canada now owns 301,913 shares of the bank’s stock worth $10,989,000 after acquiring an additional 218,885 shares during the last quarter. Finally, Orbis Allan Gray Ltd grew its position in shares of KB Financial Group by 21.1% during the first quarter. Orbis Allan Gray Ltd now owns 855,740 shares of the bank’s stock worth $31,166,000 after acquiring an additional 149,080 shares during the last quarter. 6.30% of the stock is currently owned by institutional investors and hedge funds.

About KB Financial Group

(Get Free Report)

KB Financial Group Inc provides a range of banking and related financial services to consumers and corporations in South Korea and internationally. The company operates through seven segments: Retail Banking, Corporate Banking, Other Banking, Credit Card, Securities, Life Insurance, and Non-Life Insurance.

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