[Alpha Biz= Reporter Kim Sangjin] Shinhan Investment Corp. has raised its target price for KB Financial Group from KRW 110,000 to KRW 115,000 while maintaining a "Buy" recommendation.

In its investment report released on the 25th, Shinhan Investment noted that KB Financial's third-quarter net income attributable to shareholders reached KRW 1.61 trillion, surpassing their estimate and consensus by 3.2% and 6.6%, respectively.

Regarding KB Financial's value enhancement plan, the report stated, "The bank plans to use excess capital exceeding 13% by year-end for shareholder returns in the next year, while also utilizing 13.5% excess capital throughout the year for shareholder returns." It estimates the total shareholder return ratio for next year will be around 44% (approximately KRW 2.4 trillion).

Shinhan Investment emphasized that "the overwhelming fundamentals and the best shareholder return policy in the banking sector will sustain valuation premiums."

 

 

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