Woori Bank (NYSE:WF) Downgraded to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research has downgraded Woori Bank from a "hold" rating to a "strong sell" rating, reflecting concerns about its future performance.
• Despite the downgrade from Zacks, Weiss Ratings maintains a "buy (b)" rating on Woori Bank, leading to a current consensus rating of "hold" from analysts.
• Woori Bank reported disappointing quarterly earnings, with an EPS of $2.63, significantly missing analysts' estimates of $3,574.37, raising concerns over its financial health.

Woori Bank (NYSE:WF - Get Free Report) was downgraded by research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of Woori Bank in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Woori Bank presently has a consensus rating of "Hold".

Woori Bank Stock Performance

NYSE WF opened at $54.69 on Tuesday. The stock has a market cap of $13.38 billion, a PE ratio of 6.89, a PEG ratio of 0.98 and a beta of 1.14. The firm's fifty day moving average price is $55.03 and its two-hundred day moving average price is $48.08. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.09 and a current ratio of 1.09. Woori Bank has a fifty-two week low of $29.44 and a fifty-two week 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 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 analyst estimates of $2,790.97 billion. Woori Bank had a return on equity of 8.30% and a net margin of 11.84%. On average, equities analysts expect that Woori Bank will post 8.24 EPS for the current fiscal year.

Hedge Funds Weigh In On Woori Bank

Hedge funds and other institutional investors have recently bought and sold shares of the company. Global Retirement Partners LLC raised its holdings in shares of Woori Bank by 481.7% during the third quarter. Global Retirement Partners LLC now owns 3,758 shares of the bank's stock valued at $211,000 after purchasing an additional 3,112 shares during the period. Signaturefd LLC raised its holdings in shares of Woori Bank by 0.7% during the third quarter. Signaturefd LLC now owns 43,497 shares of the bank's stock valued at $2,442,000 after purchasing an additional 285 shares during the period. Miracle Mile Advisors LLC raised its holdings in shares of Woori Bank by 4.5% during the third quarter. Miracle Mile Advisors LLC now owns 11,267 shares of the bank's stock valued at $633,000 after purchasing an additional 489 shares during the period. HM Payson & Co. acquired a new position in shares of Woori Bank during the third quarter valued at about $29,000. Finally, Ethic Inc. raised its holdings in shares of Woori Bank by 8.9% during the third quarter. Ethic Inc. now owns 114,310 shares of the bank's stock valued at $6,418,000 after purchasing an additional 9,298 shares during the period. Institutional investors and hedge funds own 3.41% of the company's stock.

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.

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