Woori Bank (NYSE:WF) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $48.00 target price on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 19.05% from the company’s previous close.
According to Zacks, “Woori Financial Group was established as Korea’s first financial holding company in April 2001 to keep pace with the global trends and evolve as a global player with world-class competitiveness. Since its launch, the Group has achieved remarkable growth in the banking business thanks to the consolidated performances of banking subsidiaries, and continued to expand its non-banking businesses through mergers and acquisitions and joint investments, As a result, the Group became the Korea’s representative financial group. “
Shares of WF stock traded down $1.34 on Tuesday, reaching $40.32. The company’s stock had a trading volume of 131 shares, compared to its average volume of 11,700. Woori Bank has a 1 year low of $38.29 and a 1 year high of $49.04. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $9.45 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 0.99 and a beta of 0.96.
Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA lifted its position in Woori Bank by 139.6% in the first quarter. BNP Paribas Arbitrage SA now owns 3,191 shares of the bank’s stock worth $132,000 after buying an additional 1,859 shares during the last quarter. Signaturefd LLC lifted its position in Woori Bank by 40.9% in the second quarter. Signaturefd LLC now owns 4,082 shares of the bank’s stock worth $179,000 after buying an additional 1,184 shares during the last quarter. Picton Mahoney Asset Management lifted its position in Woori Bank by 87.5% in the second quarter. Picton Mahoney Asset Management now owns 6,000 shares of the bank’s stock worth $264,000 after buying an additional 2,800 shares during the last quarter. Confluence Investment Management LLC bought a new stake in Woori Bank in the second quarter worth $297,000. Finally, Wetherby Asset Management Inc. lifted its position in Woori Bank by 60.0% in the second quarter. Wetherby Asset Management Inc. now owns 10,591 shares of the bank’s stock worth $466,000 after buying an additional 3,971 shares during the last quarter. Institutional investors own 0.52% of the company’s stock.
Woori Bank Company Profile
Woori Bank engages in the provision of personal and commercial banking services. It operates through the following segments: Consumer Banking, Corporate Banking, Investment Banking, Capital Markets, Credit Cards, and Other Operations. The Consumer Banking segment consists of lending to and taking deposits from its retail customers.
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