Woori Bank (NYSE:WF) Shares Gap Up - Here's What Happened

Key Points

• Woori Bank shares jumped 3.4%, opening at $73.90 versus the prior close of $71.62, with the stock last trading near $73.89.
• Analyst sentiment remains cautiously positive: Zacks Research upgraded the stock to “hold,” while the overall consensus rating is “Moderate Buy,” based on one Buy and one Hold rating.
• Woori Bank reported quarterly EPS of $2.66, missing the $2.79 consensus estimate, while revenue of $1.97 billion was roughly in line with forecasts. Institutional investors own 3.41% of the company.

Woori Bank (NYSE:WF - Get Free Report)'s stock price gapped up before the market opened on Friday . The stock had previously closed at $71.62, but opened at $73.90. Woori Bank shares last traded at $73.89, with a volume of 8,684 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on WF shares. Zacks Research upgraded Woori Bank from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 23rd. Weiss Ratings downgraded Woori Bank from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy".

Woori Bank Trading Up 3.4%

The company has a market cap of $17.98 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.68 and a beta of 1.01. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.16 and a quick ratio of 1.16. The business's 50-day simple moving average is $65.24 and its 200-day simple moving average is $67.12.

Woori Bank (NYSE:WF - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The bank reported $2.66 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.13). Woori Bank had a net margin of 13.28% and a return on equity of 8.18%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.98 billion. Research analysts predict that Woori Bank will post 9 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Woori Bank

Large investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Woori Bank in the first quarter worth $26,000. Bessemer Group Inc. lifted its position in shares of Woori Bank by 68.1% in the first quarter. Bessemer Group Inc. now owns 437 shares of the bank's stock valued at $29,000 after acquiring an additional 177 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Woori Bank during the fourth quarter valued at $43,000. Bell Investment Advisors Inc boosted its stake in shares of Woori Bank by 34.2% during the first quarter. Bell Investment Advisors Inc now owns 675 shares of the bank's stock valued at $45,000 after acquiring an additional 172 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Woori Bank by 551.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 984 shares of the bank's stock worth $48,000 after purchasing an additional 833 shares in the last quarter. Institutional investors and hedge funds own 3.41% of the company's stock.

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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