Woori Bank (NYSE:WF) Reaches New 1-Year High – Here’s Why

Woori Bank (NYSE:WF) shares hit a new 52-week high on Tuesday . The company traded as high as $58.92 and last traded at $59.60, with a volume of 6385 shares changing hands. The stock had previously closed at $56.59.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on WF. Zacks Research raised Woori Bank from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Woori Bank in a research note on Monday, November 24th. Finally, Wall Street Zen upgraded shares of Woori Bank from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Woori Bank Trading Up 5.1%

The company has a fifty day simple moving average of $54.88 and a 200-day simple moving average of $52.06. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.88. The stock has a market cap of $14.55 billion, a price-to-earnings ratio of 7.49, a P/E/G ratio of 0.90 and a beta of 1.17.

Woori Bank (NYSE:WF) last released its earnings results on Friday, November 14th. The bank reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $1.29. Woori Bank had a net margin of 11.84% and a return on equity of 8.30%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.99 billion. On average, research analysts forecast that Woori Bank will post 8.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Woori Bank

Hedge funds have recently added to or reduced their stakes in the company. HM Payson & Co. bought a new stake in Woori Bank in the third quarter valued at approximately $29,000. Smartleaf Asset Management LLC lifted its stake in Woori Bank by 551.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 984 shares of the bank’s stock valued at $48,000 after purchasing an additional 833 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in Woori Bank by 51.9% during the 2nd quarter. Osaic Holdings Inc. now owns 1,042 shares of the bank’s stock valued at $51,000 after purchasing an additional 356 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Woori Bank by 3,282.4% during the second quarter. Tower Research Capital LLC TRC now owns 1,150 shares of the bank’s stock worth $57,000 after purchasing an additional 1,116 shares during the period. Finally, Allworth Financial LP boosted its holdings in Woori Bank by 25.5% in the 2nd quarter. Allworth Financial LP now owns 1,171 shares of the bank’s stock valued at $58,000 after purchasing an additional 238 shares during the period. Institutional investors own 3.41% of the company’s stock.

About Woori Bank

Woori Financial Group Inc, a financial holding company, operates as a commercial bank that provides a range of financial products and services to individuals, corporations, and small- and medium-sized enterprises in Korea. It operates through Banking, Credit Card, Capital, Investment Banking, and Others segments.