KB Financial Group (NYSE:KB) Shares Gap Up – Time to Buy?

KB Financial Group Inc. (NYSE:KB)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $58.32, but opened at $60.25. KB Financial Group shares last traded at $60.18, with a volume of 35,507 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KB. Morgan Stanley raised KB Financial Group from an “equal weight” rating to an “overweight” rating in a research note on Thursday, December 12th. StockNews.com raised KB Financial Group from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th.

KB Financial Group Stock Up 2.6 %

The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.29. The stock has a market cap of $23.55 billion, a price-to-earnings ratio of 6.80, a price-to-earnings-growth ratio of 0.53 and a beta of 0.96. The business’s fifty day simple moving average is $66.10 and its 200 day simple moving average is $62.78.

Institutional Investors Weigh In On KB Financial Group

A number of hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of KB Financial Group during the 3rd quarter valued at $35,000. Sanctuary Advisors LLC lifted its holdings in KB Financial Group by 11.8% in the third quarter. Sanctuary Advisors LLC now owns 10,243 shares of the bank’s stock worth $633,000 after buying an additional 1,085 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in KB Financial Group by 15.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 426,430 shares of the bank’s stock worth $26,332,000 after purchasing an additional 56,400 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of KB Financial Group in the 3rd quarter worth approximately $7,291,000. Finally, Orion Portfolio Solutions LLC raised its holdings in KB Financial Group by 18.6% in the third quarter. Orion Portfolio Solutions LLC now owns 8,152 shares of the bank’s stock worth $503,000 after buying an additional 1,280 shares during the last quarter. 11.52% of the stock is currently owned by institutional investors.

KB Financial Group Company Profile

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.