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

Woori Bank (NYSE:WF) shares gapped up before the market opened on Friday. The stock had previously closed at $69.84, but opened at $72.32. Woori Bank shares last traded at $71.68, with a volume of 31,506 shares trading hands.

Wall Street Analyst Weigh In

WF has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Woori Bank from a “buy” rating to a “hold” rating in a report on Sunday, November 1st. 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. Finally, Zacks Research upgraded shares of Woori Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, Woori Bank presently has an average rating of “Strong Buy”.

Woori Bank Price Performance

The stock has a market capitalization of $17.63 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 0.64 and a beta of 1.01. 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 company has a 50 day moving average of $72.95 and a 200 day moving average of $68.63.

Hedge Funds Weigh In On Woori Bank

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantinno Capital Management LP grew its position in shares of 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 buying an additional 64,055 shares in the last quarter. Nykredit A S acquired a new stake in Woori Bank in the second quarter valued at approximately $2,684,000. Barometer Capital Management Inc. purchased a new position in Woori Bank in the first quarter worth approximately $1,172,000. NINE MASTS CAPITAL Ltd purchased a new position in Woori Bank in the third quarter worth approximately $1,259,000. Finally, First Trust Advisors LP lifted its stake in Woori Bank by 88.2% in 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 during the last quarter. Hedge funds and other institutional investors own 3.41% of the company’s stock.

Woori Bank Company Profile

Woori Bank is a South Korean commercial bank and a core subsidiary of Woori Financial Group. The bank provides retail and business banking services, including deposit accounts, loans, payments, foreign exchange, trade finance and wealth management. Its customers include individuals, small and midsize businesses, large corporations and public-sector organizations. Woori Bank operates primarily in South Korea and also serves customers through overseas branches and subsidiaries. The bank traces its history to Daehan Cheon-il Bank, established in 1899.