Woori Bank (NYSE:WF) Shares Gap Down - Here's Why

Key Points

• Woori Bank shares fell 5.1%, opening at $76.35 versus the previous close of $79.68, amid trading volume of 22,506 shares.
• Analyst sentiment remains generally positive: the stock carries a “Moderate Buy” consensus, with one Buy and one Hold rating. Weiss Ratings reaffirmed a Buy rating, while Zacks Research upgraded the shares from Strong Sell to Hold.
• Woori Bank’s latest quarterly results missed expectations, reporting $2.66 in EPS versus the $2.79 consensus estimate and revenue of $1.97 billion versus $1.98 billion expected. Institutional ownership stands at 3.41%, with several investors increasing their positions.

Shares of Woori Bank (NYSE:WF - Get Free Report) gapped down before the market opened on Wednesday. The stock had previously closed at $79.68, but opened at $76.35. Woori Bank shares last traded at $76.18, with a volume of 22,506 shares changing hands.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Woori Bank in a report on Friday, September 4th. Zacks Research raised shares of Woori Bank from a "strong sell" rating to a "hold" rating in a report 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy".

Woori Bank Trading Down 5.1%

The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market capitalization of $18.56 billion, a P/E ratio of 8.71, a price-to-earnings-growth ratio of 0.71 and a beta of 1.02. The stock has a 50-day moving average price of $72.77 and a two-hundred day moving average price of $67.34.

Woori Bank (NYSE:WF - Get Free Report) last announced its earnings results on Friday, July 24th. The bank reported $2.66 earnings per share for the quarter, missing analysts' consensus estimates of $2.79 by ($0.13). The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. Woori Bank had a net margin of 13.28% and a return on equity of 8.18%. On average, research analysts forecast that Woori Bank will post 9.55 EPS for the current fiscal year.

Institutional Trading of Woori Bank

Several institutional investors have recently added to or reduced their stakes in WF. Quantinno Capital Management LP lifted its holdings in shares of Woori Bank by 47.5% during the 1st quarter. Quantinno Capital Management LP now owns 198,920 shares of the bank's stock valued at $13,248,000 after buying an additional 64,055 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Woori Bank by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 95,636 shares of the bank's stock worth $6,367,000 after acquiring an additional 3,345 shares during the period. B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Woori Bank by 1.0% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 92,846 shares of the bank's stock worth $5,329,000 after acquiring an additional 940 shares during the period. Sequoia Financial Advisors LLC increased its position in Woori Bank by 21.8% during the second quarter. Sequoia Financial Advisors LLC now owns 48,470 shares of the bank's stock valued at $2,782,000 after acquiring an additional 8,691 shares during the last quarter. Finally, Nykredit A S purchased a new stake in Woori Bank during the second quarter valued at $2,684,000. 3.41% of the stock is currently owned by hedge funds and other institutional investors.

About Woori Bank

Woori Bank is a South Korean commercial bank and the principal banking subsidiary of Woori Financial Group. It provides banking and financial services to individual customers, businesses, and institutional clients, including deposit accounts, consumer and commercial lending, corporate finance, trade finance, payment services, and foreign-exchange services.

The bank serves customers through a network in South Korea and maintains an international presence supporting Korean companies, multinational businesses, and retail customers in selected overseas markets.

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