Woori Bank (NYSE:WF) Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Woori Bank from “Buy” to “Hold,” despite MarketBeat’s overall “Strong Buy” consensus, which includes ratings from Zacks Research and Weiss Ratings.
• Woori Bank shares opened at $67.02, down 1.0%, with a market capitalization of $16.46 billion and a price-to-earnings ratio of 7.75. The stock has traded between $48.83 and $84.71 over the past year.
• Institutional ownership remains limited at 3.41%, although several investment firms recently initiated or increased positions in the South Korean commercial bank.

Woori Bank (NYSE:WF - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Sunday, Wall Street Zen reports.

A number of other equities analysts have also issued reports on the stock. Zacks Research upgraded shares of Woori Bank from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 6th. Weiss Ratings raised shares of Woori Bank from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy".

Woori Bank Trading Down 1.0%

WF stock opened at $67.02 on Friday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.99. The stock has a market cap of $16.46 billion, a price-to-earnings ratio of 7.75, a PEG ratio of 0.61 and a beta of 1.03. The business's 50-day moving average is $73.57 and its 200 day moving average is $68.20. Woori Bank has a 12-month low of $48.83 and a 12-month high of $84.71.

Institutional Trading of Woori Bank

A number of institutional investors and hedge funds have recently modified their holdings of WF. V Square Quantitative Management LLC bought a new position in Woori Bank during the first quarter valued at about $26,000. Bessemer Group Inc. grew its holdings in shares of Woori Bank by 68.1% during the first quarter. Bessemer Group Inc. now owns 437 shares of the bank's stock valued at $29,000 after buying an additional 177 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Woori Bank by 37.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,084 shares of the bank's stock valued at $64,000 after purchasing an additional 296 shares during the period. Mather Group LLC. acquired a new position in Woori Bank in the 3rd quarter valued at approximately $82,000. Finally, Eastern Bank acquired a new stake in Woori Bank during the second quarter valued at $140,000. 3.41% of the stock is owned by institutional investors and hedge funds.

About Woori Bank

Woori Bank is a South Korean commercial bank that provides financial services to individuals, businesses and institutional customers. Its offerings include deposit accounts, consumer and commercial lending, payment and card services, foreign-exchange services, wealth management and other banking products.

The bank serves customers through a network of branches, digital banking platforms and other distribution channels in South Korea. It also supports Korean companies and individuals conducting business internationally through overseas branches, subsidiaries and representative offices in selected markets.

Woori Bank traces its origins to Daehan Cheon-il Bank, established in 1899, and is regarded as one of South Korea's oldest banking institutions.

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