Woori Bank (NYSE:WF) Shares Gap Down – Here’s Why

Woori Bank (NYSE:WF) shares gapped down prior to trading on Friday . The stock had previously closed at $77.36, but opened at $73.84. Woori Bank shares last traded at $74.1250, with a volume of 9,280 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on WF. Zacks Research raised Woori Bank from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. Weiss Ratings cut Woori Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Woori Bank Trading Down 3.7%

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 company has a market cap of $18.09 billion, a P/E ratio of 8.59, a P/E/G ratio of 0.72 and a beta of 1.02. The business has a 50-day moving average price of $66.77 and a two-hundred day moving average price of $67.06.

Woori Bank (NYSE:WF) last posted its quarterly earnings results on Friday, July 24th. The bank reported $2.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.13). The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.98 billion. Woori Bank had a net margin of 13.28% and a return on equity of 8.18%. On average, analysts predict that Woori Bank will post 9 EPS for the current year.

Hedge Funds Weigh In On Woori Bank

Several large investors have recently bought and sold shares of WF. Quantinno Capital Management LP grew its holdings in Woori Bank by 47.5% during the 1st 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. First Trust Advisors LP lifted its stake in shares of Woori Bank by 88.2% in the 1st 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 during the period. Barometer Capital Management Inc. acquired a new position in shares of Woori Bank in the 1st quarter valued at $1,172,000. Ethic Inc. boosted its position in shares of Woori Bank by 9.1% in the 4th quarter. Ethic Inc. now owns 124,767 shares of the bank’s stock worth $7,335,000 after purchasing an additional 10,457 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Woori Bank by 33.9% during the first quarter. Venturi Wealth Management LLC now owns 10,581 shares of the bank’s stock worth $705,000 after purchasing an additional 2,680 shares during the period. 3.41% of the stock is currently owned by institutional investors and hedge funds.

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.