Zacks Investment Research upgraded shares of KB Financial Group (NYSE:KB) from a hold rating to a buy rating in a research report sent to investors on Wednesday. Zacks Investment Research currently has $69.00 target price on the bank’s stock.
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. “
Separately, TheStreet cut shares of KB Financial Group from a b- rating to a c rating in a report on Monday, November 27th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. KB Financial Group presently has an average rating of Buy and an average target price of $69.00.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KB. Hermes Investment Management Ltd. purchased a new position in KB Financial Group in the third quarter valued at $8,757,000. Arrowstreet Capital Limited Partnership increased its holdings in KB Financial Group by 49.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 357,279 shares of the bank’s stock valued at $18,039,000 after buying an additional 118,515 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in KB Financial Group by 122.5% in the third quarter. Russell Investments Group Ltd. now owns 126,239 shares of the bank’s stock valued at $6,190,000 after buying an additional 69,500 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in KB Financial Group in the third quarter valued at $2,973,000. Finally, Northern Trust Corp increased its holdings in KB Financial Group by 3.9% in the second quarter. Northern Trust Corp now owns 1,168,613 shares of the bank’s stock valued at $59,004,000 after buying an additional 43,788 shares in the last quarter. 5.92% of the stock is owned by institutional investors.
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KB Financial Group Company Profile
KB Financial Group Inc is a financial holding company in Korea. The Company’s operations include Kookmin Bank, a commercial bank in Korea. The Company operates through six business segments: retail banking operations, corporate banking operations, other banking operations, credit card operations, investment and securities operations, and life insurance operations.
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