Woori Bank (NYSE:WF) Issues Quarterly Earnings Results

Key Points

• EPS miss and revenue shortfall: Woori Bank reported QEPS of $0.86 versus a $0.90 consensus and revenue of $367.6M versus $1.84B expected, representing a notable top- and bottom-line miss.
• Shares fell on the news: The stock dropped about 3.5% to $68.69, while trading at a low P/E of 7.68 and a market capitalization near $16.8B.
• Analyst optimism despite weak results: Several firms have upgraded Woori to "Strong Buy" and MarketBeat shows a consensus of "Strong Buy," even as institutional ownership remains low at roughly 3.4%.

Woori Bank (NYSE:WF - Get Free Report) issued its earnings results on Wednesday. The bank reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.04), Zacks reports. Woori Bank had a return on equity of 8.71% and a net margin of 13.10%.The company had revenue of $367.58 million during the quarter, compared to the consensus estimate of $1.84 billion.

Woori Bank Stock Down 3.5%

WF traded down $2.49 on Thursday, hitting $68.69. The company had a trading volume of 14,540 shares, compared to its average volume of 74,512. The stock has a market capitalization of $16.81 billion, a price-to-earnings ratio of 7.68, a P/E/G ratio of 0.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.13 and a current ratio of 1.10. The stock has a fifty day moving average price of $66.77 and a 200-day moving average price of $59.32. Woori Bank has a 12-month low of $29.44 and a 12-month high of $84.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kestra Advisory Services LLC purchased a new stake in Woori Bank during the fourth quarter valued at approximately $43,000. Smartleaf Asset Management LLC lifted its holdings in shares of Woori Bank by 551.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 984 shares of the bank's stock valued at $48,000 after purchasing an additional 833 shares during the last quarter. Osaic Holdings Inc. boosted its position in shares of Woori Bank by 51.9% in the 2nd quarter. Osaic Holdings Inc. now owns 1,042 shares of the bank's stock worth $51,000 after purchasing an additional 356 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Woori Bank by 3,282.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,150 shares of the bank's stock worth $57,000 after buying an additional 1,116 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Woori Bank during the 4th quarter worth $72,000. Hedge funds and other institutional investors own 3.41% of the company's stock.

Wall Street Analysts Forecast Growth

WF has been the topic of several research reports. Weiss Ratings restated a "buy (b)" rating on shares of Woori Bank in a report on Monday, December 29th. Zacks Research upgraded Woori Bank from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 11th. Finally, Wall Street Zen raised shares of Woori Bank from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Strong Buy".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.