Woori Bank (NYSE:WF) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded Woori Bank (NYSE:WF) from "strong-buy" to "hold"; Wall Street Zen also cut its rating while Weiss Ratings stayed at "buy," leaving a MarketBeat consensus of "Moderate Buy."
• Woori missed on the most recent quarter with EPS of $0.86 versus a $0.90 consensus and revenue of $367.6M versus $1.84B, and the stock trades at a PE of 7.97 with a $16.92B market cap.
• Large managers including AQR, Goldman Sachs and JPMorgan have recently increased stakes in WF, though institutional ownership remains modest at 3.41%.

Woori Bank (NYSE:WF - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the stock. Wall Street Zen lowered shares of Woori Bank from a "buy" rating to a "hold" rating in a report on Saturday, April 4th. Weiss Ratings restated a "buy (b)" rating on shares of Woori Bank in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy".

Woori Bank Price Performance

Woori Bank stock opened at $69.13 on Wednesday. The firm has a 50-day moving average price of $70.46 and a 200-day moving average price of $61.43. The firm has a market capitalization of $16.92 billion, a PE ratio of 7.97, a price-to-earnings-growth ratio of 0.71 and a beta of 1.13. The company has a current ratio of 1.10, a quick ratio of 1.13 and a debt-to-equity ratio of 0.90. Woori Bank has a 12-month low of $30.75 and a 12-month high of $84.71.

Woori Bank (NYSE:WF - Get Free Report) last released its earnings results on Wednesday, March 4th. The bank reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.04). The firm had revenue of $367.58 million during the quarter, compared to the consensus estimate of $1.84 billion. Woori Bank had a return on equity of 8.74% and a net margin of 13.49%. As a group, equities research analysts forecast that Woori Bank will post 8.24 EPS for the current year.

Institutional Investors Weigh In On Woori Bank

A number of institutional investors have recently added to or reduced their stakes in WF. AQR Capital Management LLC boosted its position in Woori Bank by 50.7% during the first quarter. AQR Capital Management LLC now owns 20,163 shares of the bank's stock valued at $673,000 after purchasing an additional 6,782 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Woori Bank by 67.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 52,170 shares of the bank's stock worth $1,741,000 after buying an additional 21,016 shares during the last quarter. Geode Capital Management LLC purchased a new position in shares of Woori Bank in the 2nd quarter worth approximately $240,000. JPMorgan Chase & Co. grew its position in shares of Woori Bank by 40.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 80,430 shares of the bank's stock worth $4,000,000 after buying an additional 23,020 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in shares of Woori Bank by 133.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,744 shares of the bank's stock worth $435,000 after buying an additional 4,996 shares during the last quarter. Institutional investors own 3.41% of the company's stock.

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.