Woori Bank (NYSE:WF) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Woori Bank (NYSE:WF) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $60.36 and traded as high as $68.00. Woori Bank shares last traded at $66.2540, with a volume of 138,737 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on WF. Zacks Research upgraded shares of Woori Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Wall Street Zen downgraded shares of Woori Bank from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Woori Bank in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat.com, Woori Bank currently has a consensus rating of “Strong Buy”.

Woori Bank Price Performance

The business has a 50-day simple moving average of $68.65 and a two-hundred day simple moving average of $60.36. The company has a quick ratio of 1.13, a current ratio of 1.10 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $16.21 billion, a price-to-earnings ratio of 7.64, a P/E/G ratio of 0.68 and a beta of 1.10.

Woori Bank (NYSE:WF) last posted its quarterly earnings data on Wednesday, March 4th. The bank reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.04). The business had revenue of $367.58 million for the quarter, compared to the consensus estimate of $1.84 billion. Woori Bank had a net margin of 13.49% and a return on equity of 8.74%. As a group, research analysts predict that Woori Bank will post 8.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Woori Bank

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. raised its holdings in shares of Woori Bank by 242.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 27,892 shares of the bank’s stock valued at $1,566,000 after purchasing an additional 19,749 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Woori Bank by 577.5% in the second quarter. Coldstream Capital Management Inc. now owns 10,373 shares of the bank’s stock worth $516,000 after purchasing an additional 8,842 shares in the last quarter. Assetmark Inc. boosted its holdings in Woori Bank by 109.0% in the third quarter. Assetmark Inc. now owns 35,898 shares of the bank’s stock worth $2,016,000 after purchasing an additional 18,726 shares in the last quarter. Capital International Investors acquired a new position in Woori Bank during the third quarter worth $2,997,000. Finally, West Family Investments Inc. raised its holdings in Woori Bank by 42.9% during the second quarter. West Family Investments Inc. now owns 17,614 shares of the bank’s stock valued at $876,000 after buying an additional 5,284 shares in the last quarter. 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.