Woori Bank (NYSE:WF) Sees Strong Trading Volume – Here’s Why

Woori Bank (NYSE:WF) shares saw strong trading volume on Friday . 61,378 shares were traded during mid-day trading, a decline of 37% from the previous session’s volume of 97,285 shares.The stock last traded at $67.8550 and had previously closed at $70.64.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WF. Zacks Research lowered Woori Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Woori Bank in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Woori Bank from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Woori Bank Trading Down 3.7%

The company’s 50-day moving average is $70.98 and its 200-day moving average is $62.49. The firm has a market cap of $16.65 billion, a price-to-earnings ratio of 7.85, a P/E/G ratio of 0.73 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.13 and a current ratio of 1.10.

Woori Bank (NYSE:WF) last issued its quarterly earnings results on Friday, April 24th. The bank reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $2.60 by ($1.01). Woori Bank had a net margin of 13.49% and a return on equity of 8.74%. On average, research analysts predict that Woori Bank will post 9.99 earnings per share for the current year.

Institutional Investors Weigh In On Woori Bank

Hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of Woori Bank by 242.5% during the third quarter. Envestnet Asset Management Inc. now owns 27,892 shares of the bank’s stock valued at $1,566,000 after acquiring an additional 19,749 shares during the period. Capital International Investors acquired a new stake in Woori Bank in the third quarter worth about $2,997,000. Assetmark Inc. raised its holdings in Woori Bank by 109.0% during the 3rd quarter. Assetmark Inc. now owns 35,898 shares of the bank’s stock worth $2,016,000 after purchasing an additional 18,726 shares during the last quarter. Ethic Inc. raised its holdings in Woori Bank by 8.9% during the 3rd quarter. Ethic Inc. now owns 114,310 shares of the bank’s stock worth $6,418,000 after purchasing an additional 9,298 shares during the last quarter. Finally, Barometer Capital Management Inc. acquired a new position in Woori Bank during the 3rd quarter valued at about $696,000. 3.41% of the stock is owned by institutional investors and hedge funds.

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.