Woori Bank (NYSE:WF) Shares Gap Down Following Weak Earnings

Key Points

• Woori Bank's shares gapped down from $54.73 to $52.06 due to a disappointing earnings report, missing analyst estimates significantly with an EPS of $2.63 versus expectations of $3,574.37.
• The bank's quarterly revenue of $2 billion fell short of the consensus estimate of $2,790.97 billion, indicating challenges in financial performance.
• Multiple institutional investors, including Canopy Partners LLC and HighTower Advisors LLC, purchased new stakes in Woori Bank during the first quarter, reflecting interest from larger investors despite the poor earnings report.

Woori Bank (NYSE:WF - Get Free Report)'s share price gapped down before the market opened on Monday following a dissappointing earnings announcement. The stock had previously closed at $54.73, but opened at $52.06. Woori Bank shares last traded at $52.29, with a volume of 32,945 shares trading hands.

The bank reported $2.63 EPS for the quarter, missing analysts' consensus estimates of $3,574.37 by ($3,571.74). Woori Bank had a return on equity of 8.31% and a net margin of 11.84%. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2,790.97 billion.

Institutional Investors Weigh In On Woori Bank

Large investors have recently bought and sold shares of the company. Canopy Partners LLC bought a new position in Woori Bank in the 1st quarter valued at approximately $201,000. Optas LLC bought a new position in Woori Bank in the 1st quarter valued at approximately $203,000. HighTower Advisors LLC bought a new position in Woori Bank in the 1st quarter valued at approximately $207,000. Compound Planning Inc. bought a new position in Woori Bank in the 1st quarter valued at approximately $215,000. Finally, Foster Group Inc. acquired a new stake in Woori Bank during the 1st quarter valued at approximately $221,000. 3.41% of the stock is currently owned by institutional investors and hedge funds.

Woori Bank Price Performance

The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 6.67, a P/E/G ratio of 0.95 and a beta of 1.04. The business's 50-day simple moving average is $48.16 and its two-hundred day simple moving average is $39.19. 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 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.