Zacks Investment Research upgrades KBC Group (OTCMKTS: KBCSY) to buy

KBC Group (OTCMKTS: KBCSY) has been improved by Zacks investment research from a “keep” note to a “buy” note in a research report given to clients and investors on Tuesday, Zacks.com reports. The brokerage currently has a price target of $ 44.00 on the share. Zacks investment researchThe target stock price indicates a potential rise of 12.65% from the current stock price.

According to Zacks, “KBC Groupe NV is an integrated bancassurance group that primarily caters to retail, private banking, SME and mid-cap clients. Its operating segment consists of Belgium Business, Czech Republic Business, International Markets Business and Group Center. The Business Belgium segment carries out retail and private bancassurance activities. The Business Czech Republic segment includes all of KBC’s activities. The Group Center segment includes the operating results of the group’s holding activities. The International Business Markets segment comprises the activities carried out by entities in the other central countries of Central and Eastern Europe. KBC Groupe SA is headquartered in Brussels, Belgium. “

A number of other brokerages have also recently commented on KBCSY. Royal Bank of Canada began covering KBC Group in a research report on Thursday, May 27. They issued a “sector performance” rating on the stock. They noted that the move was an appraisal call. Societe Generale downgraded KBC Group from a “purchase” rating to a “conservation” rating in a research report published on Tuesday 23 March. Credit Suisse Group reaffirmed the “neutral” rating of KBC Group shares in a research report on Thursday 22 April. Cheuvreux raised KBC Groupe from a “reduce” rating to a “retain” rating in a research report published on Tuesday 6 July. Finally, Morgan Stanley reaffirmed an “equal weight” rating on KBC Group shares in a research report on Wednesday 12 May. One research analyst rated the stock with a sell rating, nine issued a conservation rating and two issued a buy rating for the company. The stock has an average “Hold” rating and a consensus price target of $ 53.50.

KBCSY shares open for $ 39.06 Tuesday. The company has a market cap of $ 32.55 billion, a PE ratio of 14.15 and a beta of 1.49. The fifty-day moving average share price is $ 40.04. KBC Group has a 52-week minimum at $ 24.09 and a 52.27-week maximum at $ 42.27.

KBC Group (OTCMKTS: KBCSY) last published its quarterly results on Tuesday 11 May. The company reported earnings of $ 0.79 per share for the quarter. The company posted revenue of $ 2.33 billion for the quarter, compared to $ 2.27 billion expected by analysts. KBC Group achieved a return on equity of 12.61% and a net margin of 22.57%. Sell-side analysts predict that KBC Group will post earnings per share of 3.06 for the current year.

Company profile KBC Group

KBC Groupe NV, together with its subsidiaries, provides integrated bancassurance services mainly for retail, private banking, small and medium-sized enterprises and mid-cap clients. The company offers sight deposits and savings accounts; real estate and mortgage loans; consumer finance and SME finance services; credit, investment fund and asset management, and life and non-life insurance; and cash management, payments, trade finance, leasing, money market, capital market products and brokerage services.

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Analyst recommendations for KBC Group (OTCMKTS: KBCSY)

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