Woori Bank (NYSE:WF) Raised to Strong-Buy at Zacks Research

Woori Bank (NYSE:WF) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

WF has been the subject of several other reports. Weiss Ratings upgraded shares of Woori Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 2nd. Wall Street Zen raised Woori Bank from a “hold” rating to a “buy” rating in a research report on Saturday, October 3rd. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

Woori Bank Stock Performance

NYSE WF opened at $74.16 on Tuesday. The firm has a market capitalization of $18.21 billion, a P/E ratio of 8.54, a price-to-earnings-growth ratio of 0.66 and a beta of 1.03. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.99. The firm’s fifty day moving average price is $73.99 and its two-hundred day moving average price is $67.72. Woori Bank has a 1 year low of $48.83 and a 1 year high of $84.71.

Woori Bank (NYSE:WF) last announced its quarterly earnings data on Friday, July 24th. The bank reported $2.66 EPS for the quarter, missing analysts’ consensus estimates 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%. As a group, research analysts anticipate that Woori Bank will post 9.72 EPS for the current year.

Hedge Funds Weigh In On Woori Bank

Large investors have recently modified their holdings of the stock. QRG Capital Management Inc. boosted its holdings in shares of Woori Bank by 10.3% during the 2nd quarter. QRG Capital Management Inc. now owns 14,517 shares of the bank’s stock worth $833,000 after buying an additional 1,355 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Woori Bank by 21.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 48,470 shares of the bank’s stock valued at $2,782,000 after acquiring an additional 8,691 shares during the period. West Family Investments Inc. raised its holdings in Woori Bank by 36.8% in the 2nd quarter. West Family Investments Inc. now owns 12,565 shares of the bank’s stock valued at $721,000 after acquiring an additional 3,379 shares during the period. Nykredit A S acquired a new stake in Woori Bank during the second quarter worth approximately $2,684,000. Finally, Corient Private Wealth LP boosted its holdings in shares of Woori Bank by 63.4% during the second quarter. Corient Private Wealth LP now owns 39,631 shares of the bank’s stock worth $2,275,000 after acquiring an additional 15,381 shares during the period. 3.41% of the stock is owned by institutional investors.

About Woori Bank

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.