Connor Clark & Lunn Investment Management Ltd. Decreases Holdings in Woori Bank (NYSE:WF)

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its stake in Woori Bank by 5.6% in Q1, owning 540,644 shares valued at approximately $18 million after the sale.
• Woori Bank reported a Q2 earnings per share of $2.63, significantly missing the consensus estimate of $3,574.37 by over $3,571.
• The bank's shares opened at $54.59, with a 52-week high of $57.97 and a market cap of $13.51 billion.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Woori Bank (NYSE:WF - Free Report) by 5.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 540,644 shares of the bank's stock after selling 31,945 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.22% of Woori Bank worth $18,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in WF. Canopy Partners LLC bought a new position in Woori Bank in the 1st quarter worth about $201,000. Optas LLC bought a new stake in shares of Woori Bank during the 1st quarter valued at about $203,000. Foster Group Inc. bought a new stake in shares of Woori Bank during the 1st quarter valued at about $221,000. Abacus Wealth Partners LLC bought a new stake in shares of Woori Bank during the 1st quarter valued at about $249,000. Finally, XTX Topco Ltd bought a new stake in shares of Woori Bank during the 1st quarter valued at about $298,000. Institutional investors own 3.41% of the company's stock.

Woori Bank Price Performance

Shares of WF traded up $1.14 during trading hours on Tuesday, reaching $55.07. 30,930 shares of the company's stock traded hands, compared to its average volume of 75,786. The stock has a market cap of $13.63 billion, a PE ratio of 6.94, a price-to-earnings-growth ratio of 0.97 and a beta of 1.08. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.86. The firm's 50 day simple moving average is $50.80 and its 200-day simple moving average is $40.66. Woori Bank has a 12 month low of $29.44 and a 12 month high of $57.97.

Woori Bank (NYSE:WF - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The bank reported $2.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3,574.37 by ($3,571.74). The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2,790.97 billion. Woori Bank had a net margin of 11.84% and a return on equity of 8.31%. Equities analysts expect that Woori Bank will post 8.24 EPS for the current year.

About Woori Bank

Woori Financial Group Inc, a financial holding company, operates as a commercial bank that provides a range of financial products and services to individuals, corporations, and small- and medium-sized enterprises in Korea. It operates through Banking, Credit Card, Capital, Investment Banking, and Others segments.