The stock of KB Financial Group Inc. (NYSE:KB) is now priced at $29.14 and the shares are 0.1 points up or 0.34% higher compared to its previous closing price of $29.04. The stock had 120257 contracts set over the past session. KB shares’ daily volume is compared to its average trading volume at 253320 shares. However, it has a float of 385 million and although its performance was -1.39% over the week, it’s one to watch. Analysts have given the KB stock a yearly average price target of $37 per share. It means the stock’s upside potential is 26.97% with the KB share price recently placing at $28.6 to $29.19. However, some brokerage firms have priced the stock below the average, including one that has called $31.58.
The shorts are running away from the KB Financial Group Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the KB shares have declined. Short interest in the stock represents just 0.05% of its float, but the volume has dropped by 0. The volume of shorted shares dropped to from shares over the last two weeks. The average intraday trading volume has been shares, which means that days to cover moved to roughly.
In the last trading session, KB Financial Group Inc. (NYSE:KB) dropped by -$0.41 over the week and gained $1.31 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $42.9. The stock recorded its established 52-week high on 12/26/19.
Since 03/23/20, the stock has traded to a low of $20.93 at 39.23%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.93. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, KB Financial Group Inc.’s two-week RSI is 55.2. This suggests that the stock is neutral at the moment and that KB shares’ price movement remains stable. The stochastic readings are equally revealing at 54.33% meaning the KB share price is currently in neutral territory.
The technical chart shows that the KB stock will likely settle at between $29.35 and $29.57 per share. However, if the stock dips below $28.76, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $28.39.
Currently, the stock is trading in the red of MACD, with a reading of -0.2. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Citigroup raised their recommendation for KB from Neutral to Buy in April 24 review. BofA/Merrill analysts upgraded their recommendation of the stock from Neutral to Buy in a flash note released to investors on November 18. Citigroup seeing the stock struggling downgraded it from Buy to Neutral on October 23.
The average rating for the KB equity is 1 and is currently gathering a bullish momentum. Of 1 analysts tracking KB Financial Group Inc. polled by Reuters, 0 rated KB as a hold. The remaining 1 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the KB stock price is 5.38X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 4.3below the group’s average of 10.8. KB Financial Group Inc. has its P/E ratio at 0.4, which means that the stock is currently trading at a discount relative to the 0.8 industry average.