Woori Bank (NYSE:WF) Stock Rating Upgraded by Wall Street Zen

Woori Bank (NYSE:WF) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

A number of other equities analysts have also issued reports on WF. Weiss Ratings raised shares of Woori Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. Zacks Research upgraded shares of Woori Bank from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Woori Bank currently has a consensus rating of “Strong Buy”.

Woori Bank Stock Down 0.2%

Shares of WF stock opened at $66.57 on Friday. The stock’s 50-day simple moving average is $74.01 and its 200-day simple moving average is $68.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $16.35 billion, a PE ratio of 7.67, a P/E/G ratio of 0.61 and a beta of 1.03. Woori Bank has a fifty-two week low of $48.83 and a fifty-two week high of $84.71.

Woori Bank (NYSE:WF) last released its earnings results on Friday, July 24th. The bank reported $2.66 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.13). The firm had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.98 billion. Woori Bank had a return on equity of 8.18% and a net margin of 13.28%. Equities analysts expect that Woori Bank will post 9.61 earnings per share for the current year.

Institutional Trading of Woori Bank

A number of hedge funds have recently modified their holdings of WF. Quantinno Capital Management LP raised 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 position in Woori Bank during the second quarter valued at $2,684,000. Barometer Capital Management Inc. purchased a new position in Woori Bank during the first quarter valued at $1,172,000. First Trust Advisors LP lifted its holdings in Woori Bank by 88.2% during the first quarter. First Trust Advisors LP now owns 32,905 shares of the bank’s stock valued at $2,191,000 after purchasing an additional 15,417 shares in the last quarter. Finally, Corient Private Wealth LP grew its position in shares of Woori Bank by 63.4% in the second quarter. Corient Private Wealth LP now owns 39,631 shares of the bank’s stock valued at $2,275,000 after purchasing an additional 15,381 shares during the period. Hedge funds and other institutional investors own 3.41% of the company’s stock.

About Woori Bank

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.