Connor Clark & Lunn Investment Management Ltd. Sells 31,945 Shares of 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. lessened its holdings in shares of Woori Bank (NYSE:WF - Free Report) by 5.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 540,644 shares of the bank's stock after selling 31,945 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.22% of Woori Bank worth $18,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE grew its stake in Woori Bank by 19.6% during the fourth quarter. Bank of America Corp DE now owns 140,654 shares of the bank's stock worth $4,395,000 after purchasing an additional 23,015 shares during the period. Canopy Partners LLC acquired a new stake in Woori Bank in the first quarter valued at approximately $201,000. Abacus Wealth Partners LLC acquired a new stake in Woori Bank in the first quarter valued at approximately $249,000. Point72 Asset Management L.P. grew its stake in Woori Bank by 148.1% in the fourth quarter. Point72 Asset Management L.P. now owns 13,400 shares of the bank's stock valued at $419,000 after acquiring an additional 8,000 shares during the period. Finally, Cerity Partners LLC grew its stake in Woori Bank by 68.0% in the first quarter. Cerity Partners LLC now owns 68,203 shares of the bank's stock valued at $2,277,000 after acquiring an additional 27,616 shares during the period. Institutional investors and hedge funds own 3.41% of the company's stock.

Woori Bank Stock Down 0.9%

Shares of NYSE:WF traded down $0.51 during mid-day trading on Thursday, hitting $54.97. 18,021 shares of the company traded hands, compared to its average volume of 64,251. The stock has a market cap of $13.61 billion, a P/E ratio of 6.92, a P/E/G ratio of 0.99 and a beta of 1.08. The stock has a 50-day moving average price of $51.03 and a two-hundred day moving average price of $40.76. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.86. 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 announced its quarterly earnings results on Friday, July 25th. The bank reported $2.63 earnings per share for the quarter, missing the consensus estimate of $3,574.37 by ($3,571.74). Woori Bank had a net margin of 11.84% and a return on equity of 8.31%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $2,790.97 billion. On average, equities research analysts forecast that Woori Bank will post 8.24 earnings per share for the current year.

Woori Bank Company Profile

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.