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

Shares of Woori Bank (NYSE:WF) gapped down before the market opened on Friday . The stock had previously closed at $70.57, but opened at $67.74. Woori Bank shares last traded at $68.42, with a volume of 10,469 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WF. Weiss Ratings lowered shares of Woori Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Zacks Research raised shares of Woori Bank from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. One equities research 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, Woori Bank currently has an average rating of “Moderate Buy”.

Woori Bank Stock Performance

The stock has a market capitalization of $16.58 billion, a PE ratio of 7.87, a P/E/G ratio of 0.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.14 and a current ratio of 1.16. The firm has a 50 day moving average of $64.57 and a 200-day moving average of $66.95.

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

Institutional Investors Weigh In On Woori Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its stake in shares of Woori Bank by 50.7% in the first quarter. AQR Capital Management LLC now owns 20,163 shares of the bank’s stock worth $673,000 after acquiring an additional 6,782 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Woori Bank by 67.5% in the first quarter. Goldman Sachs Group Inc. now owns 52,170 shares of the bank’s stock valued at $1,741,000 after purchasing an additional 21,016 shares in the last quarter. Geode Capital Management LLC acquired a new position in Woori Bank in the 2nd quarter worth about $240,000. JPMorgan Chase & Co. raised its stake in shares of Woori Bank by 40.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 80,430 shares of the bank’s stock worth $4,000,000 after purchasing an additional 23,020 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Woori Bank by 133.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 8,744 shares of the bank’s stock valued at $435,000 after buying an additional 4,996 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 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.