[Featured Stock] KB Financial, 7 Consecutive Days of Gains...New High

KB Financial recorded a 52-week intraday high as it showed a rising trend for seven consecutive trading days.

As of 9:41 a.m. on the 14th, KB Financial is trading at 94,700 won, up 3,400 won (3.72%) from the previous close. It rose to 95,300 won during the session, setting a new 52-week high. KB Financial has maintained its recent upward momentum, with gains every single day this month. It has risen nearly 13% since the beginning of the month through the previous day.

The recent stock price increase is attributed to favorable earnings forecasts and expectations for shareholder returns. Eun-gap Kim, a researcher at Kiwoom Securities, explained, "KB Financial's consolidated net profit for the third quarter of this year is expected to reach 1.55 trillion won, a 13.3% increase compared to the same period last year," adding, "The previous forecast was 1.52 trillion won, but it was slightly revised upward considering improvements in non-interest income." He continued, "The annual consolidated net profit forecast for this year has been changed from 5 trillion won to 5.04 trillion won, which is an 8.8% increase compared to 2023. Unless there are major surprises, this year will record the highest net profit ever." Along with the third-quarter earnings, plans to enhance corporate value are also expected to be announced. Researcher Kim said, "Even without special announcements, shareholder-friendly policies have been steadily strengthened based on a high capital ratio," adding, "Since the corporate value enhancement plans announced by other bank stocks were specific and challenging, it does not seem easy to include content beyond that, but it is judged that the announcement will meet market expectations as much as possible."

In addition, strong third-quarter earnings from U.S. financial stocks appear to have had a positive impact. On the 11th (local time), JPMorgan Chase announced that its earnings per share (EPS) for the third quarter of the fiscal year was $4.37, exceeding LSEG’s estimate of $4.01. Revenue also increased by 6% compared to the same period last year. Wells Fargo’s EPS for the previous quarter was $1.52, significantly surpassing the market estimate of $1.28, and its revenue nearly met expectations. Thanks to the strong performances of JPMorgan and Wells Fargo, U.S. bank stocks showed strength. JPMorgan rose 4.44%, Wells Fargo increased 5.61%, Bank of America (BoA) rose 4.95%, and Goldman Sachs also climbed more than 2%.