KBC Group SA (OTCMKTS:KBCSY) Shares Shorted: Short Interest Up 96.6% in October

KBC Group SA (OTCMKTS:KBCSY) was the recipient of a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 10,487 shares, an increase of 96.6% from the September 30th total of 5,334 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 42,860 shares, the short-interest ratio is presently 0.2 days.

KBC Group Price Performance

KBCSY stock traded up $0.57 on Monday, reaching $64.23. The company’s stock had a trading volume of 1,066 shares, compared to its average volume of 28,401. KBC Group has a 52 week low of $58.60 and a 52 week high of $78.02. The firm has a fifty day moving average of $71.98 and a two-hundred day moving average of $68.63. The company has a market capitalization of $53.65 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 0.84 and a beta of 0.64.

KBC Group (OTCMKTS:KBCSY) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. The company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.83 billion. KBC Group had a return on equity of 13.42% and a net margin of 15.58%. As a group, equities analysts expect that KBC Group will post 5.58 EPS for the current fiscal year.

Analysts Set New Price Targets

KBCSY has been the topic of a number of research reports. Jefferies Financial Group started coverage on shares of KBC Group in a research note on Wednesday, September 16th. They issued a “buy” rating on the stock. Royal Bank Of Canada restated a “sector perform” rating on shares of KBC Group in a research note on Monday, August 10th. Finally, Citigroup upgraded shares of KBC Group from a “hold” rating to a “buy” rating in a report on Thursday, October 22nd. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold”.

About KBC Group

KBC Group is a Belgian financial services group headquartered in Brussels. It operates as an integrated bank-insurance organization, combining banking and insurance activities through closely connected distribution networks and digital channels.

The group provides retail, business and private banking services, including current and savings accounts, lending, payments, investment products, asset management and financial advice. Its insurance operations offer life and non-life coverage, including products for individuals, families and businesses.

KBC serves customers primarily in Belgium and selected Central and Eastern European markets, including the Czech Republic, Slovakia, Hungary and Bulgaria.