Woori Bank (NYSE:WF) Downgraded to “Strong Sell” Rating by Zacks Research

Woori Bank (NYSE:WF) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Separately, Wall Street Zen cut Woori Bank from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Woori Bank currently has a consensus rating of “Hold”.

Woori Bank Stock Performance

Shares of WF stock opened at $69.91 on Thursday. The stock has a market capitalization of $17.11 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of 0.64 and a beta of 1.08. Woori Bank has a 52-week low of $37.35 and a 52-week high of $84.71. The stock’s 50-day moving average price is $68.94 and its 200 day moving average price is $63.38. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.90.

Woori Bank (NYSE:WF) last issued its quarterly earnings results on Friday, April 24th. The bank reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($1.01). The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.99 billion. Woori Bank had a net margin of 13.34% and a return on equity of 8.64%. As a group, equities research analysts forecast that Woori Bank will post 9.1 EPS for the current year.

Hedge Funds Weigh In On Woori Bank

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new position in Woori Bank during the 1st quarter worth approximately $26,000. Bessemer Group Inc. increased its position in Woori Bank by 68.1% during the 1st quarter. Bessemer Group Inc. now owns 437 shares of the bank’s stock worth $29,000 after purchasing an additional 177 shares during the period. Kestra Advisory Services LLC acquired a new position in Woori Bank during the 4th quarter worth approximately $43,000. Bell Investment Advisors Inc increased its position in Woori Bank by 34.2% during the 1st quarter. Bell Investment Advisors Inc now owns 675 shares of the bank’s stock worth $45,000 after purchasing an additional 172 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Woori Bank by 551.7% during the 2nd quarter. Smartleaf Asset Management LLC now owns 984 shares of the bank’s stock worth $48,000 after purchasing an additional 833 shares during the period. Institutional investors and hedge funds own 3.41% of the company’s stock.

About Woori Bank

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.