Acadian Asset Management LLC Reduces Stake in KB Financial Group Inc $KB

Acadian Asset Management LLC lowered its stake in shares of KB Financial Group Inc (NYSE:KB) by 21.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,490 shares of the bank’s stock after selling 26,220 shares during the period. Acadian Asset Management LLC’s holdings in KB Financial Group were worth $8,048,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. US Bancorp DE grew its holdings in KB Financial Group by 1.3% during the first quarter. US Bancorp DE now owns 20,442 shares of the bank’s stock valued at $1,106,000 after purchasing an additional 272 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of KB Financial Group by 585.7% in the second quarter. Parkside Financial Bank & Trust now owns 336 shares of the bank’s stock valued at $28,000 after buying an additional 287 shares during the period. First Horizon Advisors Inc. purchased a new position in shares of KB Financial Group during the 2nd quarter valued at $25,000. PDS Planning Inc lifted its position in shares of KB Financial Group by 4.3% during the 2nd quarter. PDS Planning Inc now owns 8,373 shares of the bank’s stock valued at $692,000 after buying an additional 349 shares during the last quarter. Finally, Aprio Wealth Management LLC grew its stake in shares of KB Financial Group by 4.9% during the 1st quarter. Aprio Wealth Management LLC now owns 9,617 shares of the bank’s stock worth $520,000 after acquiring an additional 446 shares during the period. Institutional investors own 11.52% of the company’s stock.

KB Financial Group Trading Up 2.9%

Shares of KB opened at $91.25 on Thursday. The firm’s 50 day simple moving average is $82.57 and its 200 day simple moving average is $79.26. The company has a market capitalization of $34.81 billion, a P/E ratio of 8.77, a P/E/G ratio of 0.65 and a beta of 1.14. The company has a debt-to-equity ratio of 2.36, a current ratio of 1.67 and a quick ratio of 1.67. KB Financial Group Inc has a 1-year low of $46.38 and a 1-year high of $92.39.

KB Financial Group (NYSE:KB) last issued its quarterly earnings results on Thursday, August 14th. The bank reported $3.16 EPS for the quarter, topping analysts’ consensus estimates of $3.15 by $0.01. The firm had revenue of $3.32 billion for the quarter, compared to analyst estimates of $3.20 billion. KB Financial Group had a net margin of 16.16% and a return on equity of 9.79%. Sell-side analysts forecast that KB Financial Group Inc will post 8.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wall Street Zen cut KB Financial Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of KB Financial Group in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

About KB Financial Group

KB Financial Group Inc provides a range of banking and related financial services to consumers and corporations in South Korea, the United States, New Zealand, China, Cambodia, the United Kingdom, Indonesia, and internationally. The company operates through Retail Banking, Corporate Banking, Other Banking Services, Credit Card, Securities, Life Insurance, and Non-Life Insurance segments.