Woori Bank (NYSE:WF) Upgraded at Zacks Research

Zacks Research upgraded shares of Woori Bank (NYSE:WF) from a hold rating to a strong-buy rating in a report published on Tuesday morning,Zacks reports.

A number of other research analysts have also issued reports on WF. Wall Street Zen upgraded Woori Bank from a “hold” rating to a “buy” rating in a report on Saturday, October 3rd. Weiss Ratings upgraded shares of Woori Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 2nd. One equities research 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.com, Woori Bank has an average rating of “Strong Buy”.

Woori Bank Stock Performance

Shares of Woori Bank stock opened at $72.73 on Tuesday. The business’s fifty day simple moving average is $74.04 and its 200-day simple moving average is $67.77. Woori Bank has a 52 week low of $48.83 and a 52 week high of $84.71. 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 firm has a market cap of $17.86 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 0.64 and a beta of 1.03.

Woori Bank (NYSE:WF) last announced its quarterly earnings results on Friday, July 24th. The bank reported $2.66 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.98 billion. Equities analysts forecast that Woori Bank will post 9.83 earnings per share for the current year.

Hedge Funds Weigh In On Woori Bank

A number of institutional investors and hedge funds have recently made changes to their positions in WF. V Square Quantitative Management LLC purchased a new stake in shares of Woori Bank during the 1st quarter worth approximately $26,000. Bessemer Group Inc. raised its holdings in shares of Woori Bank by 68.1% in the first quarter. Bessemer Group Inc. now owns 437 shares of the bank’s stock worth $29,000 after acquiring an additional 177 shares during the last quarter. Bell Investment Advisors Inc lifted its holdings in Woori Bank by 34.2% in the 1st quarter. Bell Investment Advisors Inc now owns 675 shares of the bank’s stock valued at $45,000 after purchasing an additional 172 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Woori Bank by 37.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,084 shares of the bank’s stock worth $64,000 after acquiring an additional 296 shares during the last quarter. Finally, Eastern Bank purchased a new stake in shares of Woori Bank in the second quarter valued at $140,000. 3.41% of the stock is owned by institutional investors and hedge funds.

Woori Bank Company Profile

Woori Bank is a South Korean commercial bank and the principal banking subsidiary of Woori Financial Group. It provides banking and financial services to individual customers, businesses, and institutional clients, including deposit accounts, consumer and commercial lending, corporate finance, trade finance, payment services, and foreign-exchange services.

The bank serves customers through a network in South Korea and maintains an international presence supporting Korean companies, multinational businesses, and retail customers in selected overseas markets.