KB Financial Group (NYSE:KB) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Shares of KB Financial Group Inc (NYSE:KB) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $112.70 and traded as high as $123.50. KB Financial Group shares last traded at $121.7850, with a volume of 155,227 shares trading hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of KB Financial Group in a report on Monday, September 21st. The Goldman Sachs Group reissued a “buy” rating on shares of KB Financial Group in a report on Wednesday, July 1st. Finally, Zacks Research lowered KB Financial Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

KB Financial Group Stock Performance

The firm has a 50 day moving average of $123.25 and a 200-day moving average of $112.78. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 2.53. The company has a market cap of $43.91 billion, a P/E ratio of 10.63, a PEG ratio of 0.73 and a beta of 1.05.

KB Financial Group (NYSE:KB) last issued its quarterly earnings results on Friday, August 14th. The bank reported $3.67 EPS for the quarter, topping the consensus estimate of $3.51 by $0.16. The firm had revenue of $3.49 billion during the quarter, compared to analysts’ expectations of $3.45 billion. KB Financial Group had a return on equity of 10.11% and a net margin of 17.67%. As a group, sell-side analysts anticipate that KB Financial Group Inc will post 12.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. WCM Investment Management LLC purchased a new position in KB Financial Group in the 1st quarter worth approximately $24,497,000. Bank of America Corp DE increased its stake in KB Financial Group by 20.3% during the first quarter. Bank of America Corp DE now owns 1,068,416 shares of the bank’s stock worth $106,553,000 after purchasing an additional 180,590 shares during the period. Nykredit A S purchased a new stake in shares of KB Financial Group in the 2nd quarter valued at about $10,926,000. Trinity Street Asset Management LLP lifted its holdings in KB Financial Group by 141.4% in the second quarter. Trinity Street Asset Management LLP now owns 146,667 shares of the bank’s stock valued at $15,394,000 after acquiring an additional 85,904 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of KB Financial Group by 18.7% during the 1st quarter. Royal Bank of Canada now owns 342,236 shares of the bank’s stock worth $34,131,000 after purchasing an additional 53,952 shares during the last quarter. Institutional investors and hedge funds own 11.52% of the company’s stock.

About KB Financial Group

KB Financial Group Inc is a South Korean financial holding company headquartered in Seoul. Established in 2008, the group provides a broad range of financial products and services through subsidiaries serving individuals, businesses, and institutional customers in South Korea and selected international markets.

Its principal subsidiary is KB Kookmin Bank, one of South Korea’s major commercial banks, which offers deposits, consumer and commercial lending, payments, wealth management, foreign exchange, and related banking services.