Woori Bank (NYSE:WF) Stock Rating Raised to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Woori Bank from “Hold” to “Buy,” while other analysts also raised their ratings; the stock currently carries an average “Strong Buy” rating.
• Woori Bank shares opened at $66.57, with a market capitalization of $16.35 billion and a P/E ratio of 7.97. The stock trades below its 50-day moving average of $74.01 but above its 52-week low of $48.83.
• The bank’s latest quarterly results fell slightly short of expectations, reporting $2.66 in EPS versus the $2.79 consensus and $1.97 billion in revenue versus estimates of $1.98 billion.

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

Several other equities research analysts have also weighed in on WF. Zacks Research raised 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 analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Strong Buy".

Woori Bank Stock Performance

Shares of NYSE WF opened at $66.57 on Friday. 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 firm's 50-day moving average price is $74.01 and its two-hundred day moving average price is $68.09. Woori Bank has a 52-week low of $48.83 and a 52-week high of $84.71. The stock has a market capitalization of $16.35 billion, a P/E ratio of 7.97, a P/E/G ratio of 0.63 and a beta of 1.03.

Woori Bank (NYSE:WF - Get Free Report) last issued its earnings results on Friday, July 24th. The bank reported $2.66 EPS for the quarter, missing analysts' consensus estimates of $2.79 by ($0.13). The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.98 billion. Woori Bank had a net margin of 13.28% and a return on equity of 8.18%. As a group, sell-side analysts forecast that Woori Bank will post 9.61 earnings per share for the current year.

Hedge Funds Weigh In On Woori Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WF. Signaturefd LLC raised its stake in Woori Bank by 3.6% during the 3rd quarter. Signaturefd LLC now owns 51,503 shares of the bank's stock valued at $3,891,000 after acquiring an additional 1,782 shares in the last quarter. Evergreen Capital Management LLC grew its stake in shares of Woori Bank by 10.2% in the third quarter. Evergreen Capital Management LLC now owns 8,123 shares of the bank's stock worth $614,000 after purchasing an additional 752 shares in the last quarter. Piedmont Capital Management LLC NC bought a new position in shares of Woori Bank in the third quarter worth $218,000. Quadrant Capital Group LLC grew its stake in shares of Woori Bank by 38.7% in the third quarter. Quadrant Capital Group LLC now owns 44,028 shares of the bank's stock worth $3,167,000 after purchasing an additional 12,280 shares in the last quarter. Finally, Mather Group LLC. bought a new position in shares of Woori Bank in the third quarter worth $82,000. 3.41% of the stock is owned by institutional investors.

Woori Bank Company Profile

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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