Woori Bank (NYSE:WF) Shares Gap Down - Here's Why

Key Points

• Woori Bank shares opened at $54.40, down from a previous close of $56.20, reflecting a 4.1% decrease.
• The bank reported earnings of $2.63 per share, significantly missing the consensus estimate by over $3,571.
• Despite the drop in share price, Weiss Ratings reissued a "buy (b)" rating, indicating continued confidence in the stock's potential.

Shares of Woori Bank (NYSE:WF - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $56.20, but opened at $54.40. Woori Bank shares last traded at $54.26, with a volume of 10,673 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Woori Bank in a report on Wednesday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy".

Woori Bank Stock Down 4.1%

The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.09 and a current ratio of 1.09. The firm's 50-day moving average is $55.01 and its 200 day moving average is $46.81. The firm has a market capitalization of $13.34 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14.

Woori Bank (NYSE:WF - Get Free Report) last announced its earnings results on Friday, July 25th. The bank reported $2.63 earnings per share for the quarter, missing the consensus estimate of $3,574.37 by ($3,571.74). Woori Bank had a net margin of 11.84% and a return on equity of 8.30%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2,790.97 billion. As a group, research analysts forecast that Woori Bank will post 8.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Woori Bank

Several large investors have recently added to or reduced their stakes in WF. Smartleaf Asset Management LLC increased its holdings in shares of Woori Bank by 551.7% during the second 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 period. Osaic Holdings Inc. raised its stake 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 valued at $51,000 after acquiring an additional 356 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Woori Bank by 3,282.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,150 shares of the bank's stock valued at $57,000 after buying an additional 1,116 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Woori Bank by 25.5% during the 2nd quarter. Allworth Financial LP now owns 1,171 shares of the bank's stock worth $58,000 after purchasing an additional 238 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Woori Bank by 7,366.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,568 shares of the bank's stock valued at $78,000 after buying an additional 1,547 shares in the last quarter. 3.41% of the stock is currently owned by institutional investors.

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.

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