Woori Bank (NYSE:WF) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Shares of Woori Bank (NYSE:WF) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $68.34 and traded as high as $70.06. Woori Bank shares last traded at $68.78, with a volume of 194,356 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Weiss Ratings raised Woori Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. Wall Street Zen lowered shares of Woori Bank from a “buy” rating to a “hold” rating in a report on Sunday, November 1st. Finally, Zacks Research upgraded Woori Bank from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Strong Buy”.

Woori Bank Price Performance

The firm has a fifty day moving average of $73.31 and a 200 day moving average of $68.45. The company has a market capitalization of $16.99 billion, a P/E ratio of 7.64, a P/E/G ratio of 0.60 and a beta of 1.01. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.99.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Quantinno Capital Management LP increased its position in Woori Bank by 47.5% during the first quarter. Quantinno Capital Management LP now owns 198,920 shares of the bank’s stock worth $13,248,000 after acquiring an additional 64,055 shares during the period. Nykredit A S purchased a new stake in Woori Bank in the 2nd quarter worth about $2,684,000. Barometer Capital Management Inc. purchased a new position in Woori Bank in the first quarter worth $1,172,000. First Trust Advisors LP lifted its holdings in Woori Bank by 88.2% in the 1st quarter. First Trust Advisors LP now owns 32,905 shares of the bank’s stock worth $2,191,000 after buying an additional 15,417 shares during the period. Finally, Corient Private Wealth LP increased its position in Woori Bank by 63.4% during the 2nd quarter. Corient Private Wealth LP now owns 39,631 shares of the bank’s stock valued at $2,275,000 after buying an additional 15,381 shares in the last quarter. Institutional investors and hedge funds own 3.41% of the company’s stock.

Woori Bank Company Profile

Woori Bank is a South Korean commercial bank that provides financial services to individuals, businesses and institutional customers. Its offerings include deposit accounts, consumer and commercial lending, payment and card services, foreign-exchange services, wealth management and other banking products.

The bank serves customers through a network of branches, digital banking platforms and other distribution channels in South Korea. It also supports Korean companies and individuals conducting business internationally through overseas branches, subsidiaries and representative offices in selected markets.

Woori Bank traces its origins to Daehan Cheon-il Bank, established in 1899, and is regarded as one of South Korea’s oldest banking institutions.