KB Financial Group (KB) Downgraded to “Sell” at Zacks Investment Research

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

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. “

Other equities research analysts have also recently issued reports about the stock. Bank of America cut shares of KB Financial Group from a buy rating to a neutral rating and set a $61.00 price objective for the company. in a research report on Thursday, August 30th. Credit Suisse Group began coverage on shares of KB Financial Group in a research note on Tuesday, October 23rd. They set an outperform rating on the stock.

KB Financial Group stock opened at $42.79 on Wednesday. The firm has a market cap of $16.95 billion, a PE ratio of 5.76, a PEG ratio of 1.16 and a beta of 1.27. KB Financial Group has a 12-month low of $41.04 and a 12-month high of $63.96. The company has a debt-to-equity ratio of 2.34, a current ratio of 1.65 and a quick ratio of 1.65.

Large investors have recently made changes to their positions in the stock. Stelac Advisory Services LLC acquired a new stake in KB Financial Group during the 3rd quarter worth $105,000. Millennium Management LLC acquired a new stake in KB Financial Group during the 1st quarter worth $208,000. Renaissance Technologies LLC acquired a new stake in KB Financial Group during the 2nd quarter worth $367,000. Cynosure Advisors LLC raised its stake 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 acquiring an additional 2,560 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in KB Financial Group during the 2nd quarter worth $408,000. Hedge funds and other institutional investors own 6.03% of the company’s stock.

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.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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