Woori Bank (NYSE:WF) Shares Gap Down After Earnings Miss

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.

Shares of Woori Bank (NYSE:WF - Get Free Report) gapped down prior to trading on Monday following a weaker than expected 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 earnings per share for the quarter, missing the consensus estimate of $3,574.37 by ($3,571.74). The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $2,790.97 billion. Woori Bank had a return on equity of 8.31% and a net margin of 11.84%.

Hedge Funds Weigh In On Woori Bank

Several large investors have recently made changes to their positions in the stock. Drive Wealth Management LLC purchased a new position in Woori Bank in the second quarter valued at approximately $239,000. Wealthstream Advisors Inc. acquired a new position in Woori Bank in the second quarter worth approximately $260,000. HB Wealth Management LLC bought a new stake in shares of Woori Bank in the second quarter valued at approximately $285,000. Canopy Partners LLC bought a new stake in shares of Woori Bank in the 1st quarter valued at approximately $201,000. Finally, Optas LLC acquired a new position in shares of Woori Bank during the first quarter worth approximately $203,000. 3.41% of the stock is currently owned by institutional investors and hedge funds.

Woori Bank Trading Up 0.4%

The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $13.22 billion, a P/E ratio of 6.73, a PEG ratio of 0.95 and a beta of 1.04. The business has a 50 day moving average price of $48.16 and a 200 day moving average price of $39.19.

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.