KB Financial Group (KB) Cut to Sell at Zacks Investment Research

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Zacks Investment Research lowered shares of KB Financial Group (NYSE:KB) from a hold rating to a sell rating in a research report released on Wednesday.

According to Zacks, “KOOKMIN BANK, formerly KB Financial Group Inc., is a commercial bank in Korea. On the asset side, the Company provides credit and related financial services to individuals and small and medium sized enterprises and, to a lesser extent, to large corporate customers. On the deposit side, it provides a range of deposit products and related services to both individuals and enterprises of all sizes. “

Several other equities research analysts also recently weighed in on KB. Bank of America downgraded KB Financial Group from a buy rating to a neutral rating and set a $61.00 price objective on the stock. in a report on Thursday, August 30th. Credit Suisse Group initiated coverage on KB Financial Group in a report on Tuesday, October 23rd. They set an outperform rating on the stock.

NYSE KB opened at $40.84 on Wednesday. The company has a debt-to-equity ratio of 2.34, a quick ratio of 1.65 and a current ratio of 1.65. KB Financial Group has a twelve month low of $40.66 and a twelve month high of $63.96. The firm has a market cap of $16.86 billion, a P/E ratio of 5.50, a PEG ratio of 1.16 and a beta of 1.27.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stelac Advisory Services LLC bought a new position in KB Financial Group during the 3rd quarter worth $105,000. Rehmann Capital Advisory Group raised its position in KB Financial Group by 20.4% during the 3rd quarter. Rehmann Capital Advisory Group now owns 3,643 shares of the bank’s stock worth $176,000 after purchasing an additional 617 shares during the last quarter. Millennium Management LLC bought a new position in KB Financial Group during the 1st quarter worth $208,000. Renaissance Technologies LLC bought a new position in KB Financial Group during the 2nd quarter worth $367,000. Finally, Cynosure Advisors LLC raised its position in KB Financial Group by 43.0% during the 2nd quarter. Cynosure Advisors LLC now owns 8,507 shares of the bank’s stock worth $395,000 after purchasing an additional 2,560 shares during the last quarter. 6.03% of the stock is currently owned by institutional investors.

KB Financial Group Company Profile

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

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