First Trust Advisors LP Raises Stock Position in Woori Bank $WF

Key Points

• First Trust Advisors LP increased its Woori Bank stake by 88.2% in the first quarter, bringing its holdings to 32,905 shares valued at approximately $2.19 million.
• Several other institutions also raised their positions, including AQR Capital, Goldman Sachs, JPMorgan Chase and Russell Investments; hedge funds and institutional investors collectively own 3.41% of WF shares.
• Woori Bank has a “Moderate Buy” consensus rating, with one analyst rating it Buy and another Hold. Shares opened at $72.79, compared with a 12-month range of $48.83 to $84.71.

First Trust Advisors LP boosted its holdings in shares of Woori Bank (NYSE:WF - Free Report) by 88.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,905 shares of the bank's stock after purchasing an additional 15,417 shares during the period. First Trust Advisors LP's holdings in Woori Bank were worth $2,191,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Woori Bank by 50.7% during the 1st quarter. AQR Capital Management LLC now owns 20,163 shares of the bank's stock valued at $673,000 after buying an additional 6,782 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Woori Bank by 67.5% in the first quarter. Goldman Sachs Group Inc. now owns 52,170 shares of the bank's stock worth $1,741,000 after buying an additional 21,016 shares during the last quarter. Geode Capital Management LLC acquired a new stake in Woori Bank during the second quarter worth about $240,000. JPMorgan Chase & Co. grew its holdings in Woori Bank by 40.1% during the second quarter. JPMorgan Chase & Co. now owns 80,430 shares of the bank's stock worth $4,000,000 after acquiring an additional 23,020 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Woori Bank by 133.3% during the second quarter. Russell Investments Group Ltd. now owns 8,744 shares of the bank's stock valued at $435,000 after acquiring an additional 4,996 shares in the last quarter. 3.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on WF shares. Weiss Ratings downgraded Woori Bank from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Zacks Research raised shares of Woori Bank from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy".

Woori Bank Stock Performance

Shares of WF stock opened at $72.79 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.87. Woori Bank has a 12-month low of $48.83 and a 12-month high of $84.71. The business's 50 day moving average is $62.75 and its two-hundred day moving average is $66.35. The company has a market capitalization of $17.67 billion, a P/E ratio of 8.39, a P/E/G ratio of 0.67 and a beta of 1.01.

About Woori Bank

Woori Bank Co, Ltd. NYSE: WF is a South Korean commercial bank and the principal banking unit of Woori Financial Group. Established in 2001 through the merger of Hanvit Bank and Peace Bank, the institution traces its roots to earlier banking entities that date back to the late 19th and mid-20th centuries. Headquartered in Seoul, Woori Bank operates under a universal banking model, serving both individual customers and corporate clients with a comprehensive suite of financial products and services.

The bank's core operations encompass retail banking, corporate and investment banking, treasury services, and wealth management.

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