Wall Street Zen Upgrades Woori Bank (NYSE:WF) to “Buy”

Woori Bank (NYSE:WF) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the company. Zacks Research upgraded Woori Bank from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Woori Bank in a report on Friday, September 4th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Woori Bank Stock Up 0.5%

NYSE:WF opened at $75.56 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $18.56 billion, a PE ratio of 8.71, a PEG ratio of 0.66 and a beta of 1.03. Woori Bank has a 52-week low of $48.83 and a 52-week high of $84.71. The stock has a 50-day simple moving average of $73.46 and a 200 day simple moving average of $67.55.

Woori Bank (NYSE:WF) last released its earnings results on Friday, July 24th. The bank reported $2.66 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.13). Woori Bank had a net margin of 13.28% and a return on equity of 8.18%. The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.98 billion. On average, sell-side analysts expect that Woori Bank will post 9.76 EPS for the current fiscal year.

Institutional Trading of Woori Bank

Large investors have recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its stake in Woori Bank by 47.5% in the 1st quarter. Quantinno Capital Management LP now owns 198,920 shares of the bank’s stock valued at $13,248,000 after purchasing an additional 64,055 shares during the last quarter. Nykredit A S acquired a new position in Woori Bank during the second quarter worth approximately $2,684,000. First Trust Advisors LP increased its position in Woori Bank by 88.2% during the first quarter. First Trust Advisors LP now owns 32,905 shares of the bank’s stock worth $2,191,000 after buying an additional 15,417 shares during the last quarter. Corient Private Wealth LP raised its stake in Woori Bank by 63.4% in the second quarter. Corient Private Wealth LP now owns 39,631 shares of the bank’s stock valued at $2,275,000 after buying an additional 15,381 shares during the period. Finally, Barometer Capital Management Inc. bought a new stake in Woori Bank in the first quarter valued at approximately $1,172,000. Institutional investors and hedge funds own 3.41% of the company’s stock.

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.