Mirae Asset Upgrades JB Financial to Buy with 35,000 KRW Target on Share Buyback Plan

According to Mirae Asset Securities, the brokerage upgraded its investment rating on JB Financial Group to buy from neutral on July 27, citing undervaluation amid shareholder return initiatives. The target price remains at 35,000 Korean won.

JB Financial reported net profit attributable to controlling shareholders of 219.6 billion won for the second quarter, up 5.7% year-over-year. The company announced plans to repurchase 100 billion won in treasury shares through January 2027, with 82 billion won to be completed by year-end. Mirae Asset expects the company's shareholder return ratio to exceed 50% this year.