Franklin Resources Inc. Sells 32,277 Shares of KB Financial Group Inc. (NYSE:KB)

Franklin Resources Inc. cut its holdings in KB Financial Group Inc. (NYSE:KB - Free Report) by 11.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 249,477 shares of the bank's stock after selling 32,277 shares during the period. Franklin Resources Inc. owned approximately 0.06% of KB Financial Group worth $15,405,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. raised its position in KB Financial Group by 23.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 779,499 shares of the bank's stock valued at $48,134,000 after purchasing an additional 145,861 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of KB Financial Group during the third quarter valued at approximately $7,291,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in KB Financial Group in the third quarter worth $3,516,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of KB Financial Group by 15.2% in the 3rd 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 during the period. Finally, NINE MASTS CAPITAL Ltd purchased a new stake in KB Financial Group in the second quarter worth about $2,038,000. 11.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KB has been the subject of a number of analyst reports. StockNews.com upgraded shares of KB Financial Group from a "hold" rating to a "buy" rating in a research note on Tuesday, October 29th. Morgan Stanley raised KB Financial Group from an "equal weight" rating to an "overweight" rating in a report on Thursday, December 12th.

KB Financial Group Price Performance

Shares of KB stock traded down $0.14 on Friday, hitting $59.08. 240,590 shares of the stock traded hands, compared to its average volume of 202,152. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.66 and a quick ratio of 1.66. KB Financial Group Inc. has a 52 week low of $36.57 and a 52 week high of $72.89. The firm has a 50 day simple moving average of $65.67 and a two-hundred day simple moving average of $62.79. The firm has a market cap of $23.25 billion, a price-to-earnings ratio of 6.89, a PEG ratio of 0.53 and a beta of 0.96.

About KB Financial Group

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.