Woori Bank (NYSE:WF) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Woori Bank from “buy” to “hold,” despite MarketBeat’s overall consensus rating remaining “Strong Buy” based on other analyst recommendations.
• Woori Bank shares opened at $72.83, with a $17.89 billion market capitalization and a 52-week trading range of $48.83 to $84.71.
• The bank’s latest quarterly results fell short of expectations, reporting $2.66 in earnings per share versus the $2.79 consensus estimate and revenue of $1.97 billion versus $1.98 billion expected.

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

WF has been the subject of a number of other reports. Zacks Research raised 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 issued a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy".

Woori Bank Trading Up 0.2%

NYSE WF opened at $72.83 on Friday. The firm has a market capitalization of $17.89 billion, a P/E ratio of 8.39, a PEG ratio of 0.66 and a beta of 1.03. The business has a fifty day simple moving average of $74.12 and a 200 day simple moving average of $67.80. Woori Bank has a 12 month low of $48.83 and a 12 month high of $84.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.99.

Woori Bank (NYSE:WF - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The bank reported $2.66 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.13). The firm had revenue of $1.97 billion for the quarter, compared to analysts' expectations of $1.98 billion. Woori Bank had a return on equity of 8.18% and a net margin of 13.28%. On average, analysts predict that Woori Bank will post 9.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Woori Bank

Several institutional investors have recently added to or reduced their stakes in WF. V Square Quantitative Management LLC purchased a new position in shares of Woori Bank in the first quarter worth about $26,000. Bessemer Group Inc. lifted its stake in shares of Woori Bank by 68.1% during the 1st 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. Bell Investment Advisors Inc boosted its holdings in Woori Bank by 34.2% in the 1st quarter. Bell Investment Advisors Inc now owns 675 shares of the bank's stock worth $45,000 after buying an additional 172 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Woori Bank by 37.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,084 shares of the bank's stock worth $64,000 after buying an additional 296 shares during the period. Finally, Eastern Bank purchased a new position in Woori Bank in the 2nd quarter valued at approximately $140,000. 3.41% of the stock is owned by hedge funds and other institutional investors.

About Woori Bank

Woori Bank is a South Korean commercial bank and the principal banking subsidiary of Woori Financial Group. It provides banking and financial services to individual customers, businesses, and institutional clients, including deposit accounts, consumer and commercial lending, corporate finance, trade finance, payment services, and foreign-exchange services.

The bank serves customers through a network in South Korea and maintains an international presence supporting Korean companies, multinational businesses, and retail customers in selected overseas markets.

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