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

Woori Bank (NYSE:WF) shares gapped up before the market opened on Friday. The stock had previously closed at $69.84, but opened at $72.32. Woori Bank shares last traded at $71.68, with a volume of 31,506 shares traded.

Wall Street Analyst Weigh In

Several research analysts recently commented on WF shares. Zacks Research upgraded Woori Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Wall Street Zen cut shares of Woori Bank from a “buy” rating to a “hold” rating in a research note on Sunday, November 1st. Finally, Weiss Ratings raised shares of Woori Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy”.

Woori Bank Trading Up 2.8%

The stock has a market capitalization of $17.63 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 0.64 and a beta of 1.01. The company’s 50-day moving average is $72.95 and its 200-day moving average is $68.63. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.99.

Institutional Trading of Woori Bank

Institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. grew its position in Woori Bank by 68.1% in the first quarter. Bessemer Group Inc. now owns 437 shares of the bank’s stock worth $29,000 after acquiring an additional 177 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Woori Bank by 11.6% during the 3rd quarter. Global Retirement Partners LLC now owns 2,521 shares of the bank’s stock worth $190,000 after purchasing an additional 262 shares during the period. Parallel Advisors LLC grew its holdings in shares of Woori Bank by 1.6% during the 3rd quarter. Parallel Advisors LLC now owns 20,776 shares of the bank’s stock worth $1,569,000 after purchasing an additional 333 shares during the period. Foster Group Inc. grew its holdings in shares of Woori Bank by 4.5% during the 3rd quarter. Foster Group Inc. now owns 7,774 shares of the bank’s stock worth $587,000 after purchasing an additional 335 shares during the period. Finally, Aprio Wealth Management LLC increased its position in shares of Woori Bank by 3.5% during the 3rd quarter. Aprio Wealth Management LLC now owns 12,413 shares of the bank’s stock worth $938,000 after purchasing an additional 416 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 is a South Korean commercial bank and a core subsidiary of Woori Financial Group. The bank provides retail and business banking services, including deposit accounts, loans, payments, foreign exchange, trade finance and wealth management. Its customers include individuals, small and midsize businesses, large corporations and public-sector organizations. Woori Bank operates primarily in South Korea and also serves customers through overseas branches and subsidiaries. The bank traces its history to Daehan Cheon-il Bank, established in 1899.