Woori Bank (NYSE:WF) Shares Gap Up – Here’s What Happened

Woori Bank (NYSE:WF)’s share price gapped up before the market opened on Friday . The stock had previously closed at $71.62, but opened at $73.90. Woori Bank shares last traded at $73.89, with a volume of 8,684 shares.

Analyst Ratings Changes

WF has been the subject of several recent analyst reports. Weiss Ratings cut shares of Woori Bank from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Zacks Research raised Woori Bank from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Woori Bank Stock Up 3.4%

The firm has a market capitalization of $17.98 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 0.68 and a beta of 1.01. 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 has a 50 day moving average price of $65.24 and a two-hundred day moving average price of $67.12.

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

Institutional Investors Weigh In On Woori Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WF. V Square Quantitative Management LLC acquired a new position in shares of Woori Bank in the first quarter worth about $26,000. Bessemer Group Inc. increased its stake in Woori Bank by 68.1% during the first quarter. Bessemer Group Inc. now owns 437 shares of the bank’s stock valued at $29,000 after purchasing an additional 177 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Woori Bank during the fourth quarter worth about $43,000. Bell Investment Advisors Inc raised its position in shares of 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 lifted its stake in Woori Bank by 551.7% in the second quarter. Smartleaf Asset Management LLC now owns 984 shares of the bank’s stock valued at $48,000 after buying an additional 833 shares during the last quarter. Hedge funds and other institutional investors 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.