Woori Bank (NYSE:WF) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Woori Bank (NYSE:WF) from a hold rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Several other research analysts also recently issued reports on the company. Zacks Research raised Woori Bank from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Weiss Ratings raised shares of Woori Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

Woori Bank Stock Performance

NYSE:WF opened at $66.57 on Friday. The firm’s fifty day simple moving average is $74.01 and its 200-day simple moving average is $68.09. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.99. The stock has a market cap of $16.35 billion, a PE ratio of 7.67, a price-to-earnings-growth 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 announced its quarterly earnings data on Friday, July 24th. The bank reported $2.66 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.13). Woori Bank had a net margin of 13.28% and a return on equity of 8.18%. The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.98 billion. Analysts expect that Woori Bank will post 9.61 earnings per share for the current fiscal year.

Institutional Trading of Woori Bank

A number of hedge funds have recently bought and sold shares of the company. Quantinno Capital Management LP grew its holdings in shares of Woori Bank by 47.5% during the 1st quarter. Quantinno Capital Management LP now owns 198,920 shares of the bank’s stock valued at $13,248,000 after acquiring an additional 64,055 shares in the last quarter. Nykredit A S acquired a new position in shares of Woori Bank in the second quarter worth $2,684,000. Barometer Capital Management Inc. acquired a new position in shares of Woori Bank in the first quarter worth $1,172,000. First Trust Advisors LP raised its holdings in shares of Woori Bank by 88.2% during the first quarter. First Trust Advisors LP now owns 32,905 shares of the bank’s stock worth $2,191,000 after acquiring an additional 15,417 shares in the last quarter. Finally, Corient Private Wealth LP raised its holdings in shares of Woori Bank by 63.4% during the second quarter. Corient Private Wealth LP now owns 39,631 shares of the bank’s stock worth $2,275,000 after acquiring an additional 15,381 shares in the last quarter. Institutional investors and hedge funds 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.