Woori Bank (NYSE:WF) Stock Moved Up to "Strong-Buy" by Zacks Research

Key Points

• Zacks Research upgraded Woori Bank from “hold” to “strong buy,” while other analysts also raised their ratings; the stock’s consensus rating is now “Strong Buy.”
• Woori Bank shares opened at $74.16, with a market capitalization of $18.21 billion and a 12-month trading range of $48.83 to $84.71.
• The bank’s latest quarterly results fell short of expectations, reporting $2.66 in EPS versus the $2.79 consensus and $1.97 billion in revenue versus the $1.98 billion estimate; institutional investors own 3.41% of the company.

Woori Bank (NYSE:WF - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday, Zacks reports.

Other equities analysts have also issued reports about the company. Weiss Ratings upgraded Woori Bank from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 2nd. Wall Street Zen upgraded Woori Bank from a "hold" rating to a "buy" rating in a research note on Saturday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, Woori Bank has an average rating of "Strong Buy".

Woori Bank Stock Performance

WF stock opened at $74.16 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $18.21 billion, a price-to-earnings ratio of 8.54, a P/E/G ratio of 0.66 and a beta of 1.03. Woori Bank has a 12 month low of $48.83 and a 12 month high of $84.71. The firm has a 50 day moving average of $73.99 and a two-hundred day moving average of $67.72.

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 analysts' consensus estimates of $2.79 by ($0.13). Woori Bank had a net margin of 13.28% and a return on equity of 8.18%. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. As a group, equities analysts anticipate that Woori Bank will post 9.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WF. QRG Capital Management Inc. lifted its position in Woori Bank by 10.3% during the 2nd quarter. QRG Capital Management Inc. now owns 14,517 shares of the bank's stock worth $833,000 after acquiring an additional 1,355 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Woori Bank by 21.8% in the second quarter. Sequoia Financial Advisors LLC now owns 48,470 shares of the bank's stock valued at $2,782,000 after purchasing an additional 8,691 shares during the last quarter. West Family Investments Inc. increased its stake in shares of Woori Bank by 36.8% in the second quarter. West Family Investments Inc. now owns 12,565 shares of the bank's stock worth $721,000 after purchasing an additional 3,379 shares during the period. Nykredit A S bought a new position in shares of Woori Bank in the second quarter worth about $2,684,000. Finally, Corient Private Wealth LP lifted its position in shares of Woori Bank by 63.4% during the 2nd quarter. Corient Private Wealth LP now owns 39,631 shares of the bank's stock worth $2,275,000 after purchasing an additional 15,381 shares during the last quarter. Institutional investors own 3.41% of the company's stock.

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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