Woori Bank (NYSE:WF) Shares Gap Down - What's Next?

Key Points

• Woori Bank shares fell sharply at the open, dropping from a prior close of $70.57 to $67.74 before trading around $68.42.
• Analyst sentiment remains moderately positive: Zacks Research upgraded the stock from “strong sell” to “hold,” while MarketBeat reports an overall “Moderate Buy” rating.
• The bank’s latest quarterly results fell short of expectations, with earnings of $2.66 per share versus the $2.79 consensus and revenue of $1.97 billion versus estimates of $1.98 billion.

Shares of Woori Bank (NYSE:WF - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $70.57, but opened at $67.74. Woori Bank shares last traded at $68.42, with a volume of 10,469 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Woori Bank from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 23rd. Weiss Ratings cut Woori Bank from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

Woori Bank Trading Up 2.2%

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.16 and a quick ratio of 1.14. The business has a fifty day moving average of $64.57 and a 200-day moving average of $66.95. The stock has a market capitalization of $16.58 billion, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 0.67 and a beta of 1.01.

Woori Bank (NYSE:WF - Get Free Report) last issued its quarterly earnings results on Friday, July 24th. The bank reported $2.66 earnings per share for the quarter, missing analysts' consensus estimates of $2.79 by ($0.13). Woori Bank had a net margin of 13.28% and a return on equity of 8.18%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.98 billion. On average, equities analysts anticipate that Woori Bank will post 9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of Woori Bank during the 1st quarter valued at $26,000. Bessemer Group Inc. raised its position in shares of Woori Bank by 68.1% during the first quarter. Bessemer Group Inc. now owns 437 shares of the bank's stock worth $29,000 after purchasing an additional 177 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Woori Bank during the fourth quarter worth $43,000. Bell Investment Advisors Inc lifted its holdings in shares of Woori Bank by 34.2% during the first quarter. Bell Investment Advisors Inc now owns 675 shares of the bank's stock valued at $45,000 after purchasing an additional 172 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted 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 last quarter. Institutional investors and hedge funds own 3.41% of the company's stock.

Woori Bank Company Profile

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.

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