Woori Bank (NYSE:WF) Share Price Breaks Above Two Hundred Day Moving Average – Here’s What Happened

Woori Bank (NYSE:WF)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $68.34 and traded as high as $70.06. Woori Bank shares last traded at $68.78, with a volume of 194,356 shares.

Analysts Set New Price Targets

Several brokerages recently issued reports on WF. Wall Street Zen lowered Woori Bank from a “buy” rating to a “hold” rating in a research report on Sunday. Zacks Research raised shares of Woori Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings raised Woori Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Strong Buy”.

Woori Bank Stock Performance

The company has a 50-day moving average of $73.42 and a 200-day moving average of $68.34. The company has a market cap of $16.89 billion, a PE ratio of 7.92, a PEG ratio of 0.60 and a beta of 1.01. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.99.

Hedge Funds Weigh In On Woori Bank

Several large investors have recently bought and sold shares of WF. Quantinno Capital Management LP grew its stake in shares of Woori Bank by 47.5% in the 1st quarter. Quantinno Capital Management LP now owns 198,920 shares of the bank’s stock worth $13,248,000 after acquiring an additional 64,055 shares in the last quarter. Nykredit A S purchased a new stake in shares of Woori Bank in the second quarter valued at about $2,684,000. Barometer Capital Management Inc. purchased a new stake in shares of Woori Bank in the first quarter valued at about $1,172,000. First Trust Advisors LP lifted its position in shares of Woori Bank by 88.2% during the first quarter. First Trust Advisors LP now owns 32,905 shares of the bank’s stock valued at $2,191,000 after purchasing an additional 15,417 shares in the last quarter. Finally, Corient Private Wealth LP lifted its position in shares of Woori Bank by 63.4% during the second quarter. Corient Private Wealth LP now owns 39,631 shares of the bank’s stock valued at $2,275,000 after purchasing an additional 15,381 shares in the last quarter. 3.41% of the stock is currently owned by institutional investors.

Woori Bank Company Profile

Woori Bank is a South Korean commercial bank that provides financial services to individuals, businesses and institutional customers. Its offerings include deposit accounts, consumer and commercial lending, payment and card services, foreign-exchange services, wealth management and other banking products.

The bank serves customers through a network of branches, digital banking platforms and other distribution channels in South Korea. It also supports Korean companies and individuals conducting business internationally through overseas branches, subsidiaries and representative offices in selected markets.

Woori Bank traces its origins to Daehan Cheon-il Bank, established in 1899, and is regarded as one of South Korea’s oldest banking institutions.