KBC Group NV (OTCMKTS:KBCSY) saw a significant drop in short interest in August. As of August 31st, there was short interest totalling 8,100 shares, a drop of 76.2% from the August 15th total of 34,100 shares. Based on an average daily volume of 42,200 shares, the days-to-cover ratio is currently 0.2 days.
A number of analysts have weighed in on KBCSY shares. Barclays raised shares of KBC Group to an “equal weight” rating and raised their price objective for the stock from €56.50 ($66.47) to €59.90 ($70.47) in a report on Thursday, July 22nd. Cheuvreux raised shares of KBC Group from a “reduce” rating to a “hold” rating in a report on Tuesday, July 6th. UBS Group raised shares of KBC Group to a “sell” rating in a report on Monday. HSBC upgraded shares of KBC Group to a “buy” rating in a research report on Friday, May 28th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of KBC Group to a “hold” rating and raised their target price for the stock from €64.00 ($75.29) to €66.00 ($77.65) in a research report on Thursday, July 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, KBC Group has an average rating of “Hold” and a consensus price target of $65.99.
OTCMKTS:KBCSY traded down $0.59 during midday trading on Wednesday, reaching $42.14. The stock had a trading volume of 14,475 shares, compared to its average volume of 45,826. The firm has a fifty day simple moving average of $40.81 and a two-hundred day simple moving average of $39.35. KBC Group has a 12-month low of $24.09 and a 12-month high of $42.98. The stock has a market cap of $35.12 billion, a P/E ratio of 11.61 and a beta of 1.51.
About KBC Group
KBC Group NV engages in the provision of integrated bank-insurances. It operates through the following segments: Belgium Business; Czech Republic Business; and International Markets Business Unit. The Belgium Business segment engages in the retail and private banc assurance activities in Belgium. The Czech Republic Business segment comprises all KBC’s activities in the Czech Republic.
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