Ramirez Asset Management Inc. Sells 38,457 Shares of Woori Bank $WF

Key Points

• Ramirez Asset Management cut its position in Woori Bank by 98.2% in Q3, selling 38,457 shares and retaining just 700 shares valued at $39,000.
• Woori Bank reported Q earnings of $0.86 per share versus $0.90 expected and revenue of $367.6M (well below the $1.84B consensus); the stock trades around $66.15 with a market cap of $16.19B and a P/E of 7.63.
• Several institutions (including AQR and Goldman) increased stakes even as overall institutional ownership is only 3.41%, and MarketBeat shows a consensus rating of "Strong Buy" for the stock.

Ramirez Asset Management Inc. cut its position in shares of Woori Bank (NYSE:WF - Free Report) by 98.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 700 shares of the bank's stock after selling 38,457 shares during the period. Ramirez Asset Management Inc.'s holdings in Woori Bank were worth $39,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in Woori Bank by 50.7% during the first quarter. AQR Capital Management LLC now owns 20,163 shares of the bank's stock worth $673,000 after purchasing an additional 6,782 shares during the period. Goldman Sachs Group Inc. lifted its position 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 valued at $1,741,000 after buying an additional 21,016 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Woori Bank by 8.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,143 shares of the bank's stock worth $405,000 after acquiring an additional 643 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Woori Bank by 0.8% during the 2nd quarter. Acadian Asset Management LLC now owns 128,924 shares of the bank's stock worth $6,407,000 after acquiring an additional 1,083 shares during the period. Finally, Profund Advisors LLC acquired a new position in shares of Woori Bank during the 2nd quarter worth approximately $257,000. 3.41% of the stock is owned by institutional investors.

Woori Bank Trading Down 3.3%

Shares of NYSE:WF opened at $66.15 on Friday. Woori Bank has a 12-month low of $29.44 and a 12-month high of $84.71. The business has a 50 day moving average of $67.04 and a 200-day moving average of $59.51. The company has a quick ratio of 1.13, a current ratio of 1.10 and a debt-to-equity ratio of 0.90. The stock has a market cap of $16.19 billion, a PE ratio of 7.63, a P/E/G ratio of 0.67 and a beta of 1.10.

Woori Bank (NYSE:WF - Get Free Report) last announced its earnings results on Wednesday, March 4th. The bank reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.04). The firm had revenue of $367.58 million for the quarter, compared to the consensus estimate of $1.84 billion. Woori Bank had a return on equity of 8.74% and a net margin of 13.49%. As a group, equities research analysts forecast that Woori Bank will post 8.24 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WF shares. Zacks Research upgraded Woori Bank from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Woori Bank in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Woori Bank from a "strong-buy" rating to a "buy" rating in a report on Sunday. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, Woori Bank has a consensus rating of "Strong Buy".

Woori Bank Company Profile

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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