[Featured Stock] KB Financial Group Hits Record High for Two Consecutive Days
[Asia Economy Reporter Song Hwajeong] KB Financial Group has continued its strong rally for the third consecutive day. It also set a new 52-week high again within a day.
As of 10:42 AM on the 12th, KB Financial was trading at 61,200 KRW, up 1,200 KRW (2.0%) from the previous day. During the session, it rose to 61,500 KRW, breaking the 52-week high again within a day.
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The solid earnings are interpreted as the driving force behind the stock price increase. Park Hyejin, a researcher at Daishin Securities, said, "KB Financial's net profit for the fourth quarter of last year is estimated to be close to 1 trillion KRW excluding voluntary retirement expenses," adding, "The annual profit for 2021 is expected to exceed 4.4 trillion KRW, and the return on equity (ROE) is projected to record a level similar to 9.6%, which is comparable to the historical high stock price level in 2017."
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