Woori Bank (WF) Upgraded to Buy at Zacks Investment Research

Woori Bank (NYSE:WF) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, July 22nd. The brokerage presently has a $56.00 price target on the bank’s stock. Zacks Investment Research‘s target price points to a potential upside of 16.13% 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 Woori Bank (NYSE:WF) opened at 48.22 on Friday. The firm has a 50-day moving average price of $49.66 and a 200 day moving average price of $41.31. Woori Bank has a 12-month low of $27.28 and a 12-month high of $53.50.

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Institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in Woori Bank by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 31,778 shares of the bank’s stock valued at $1,547,000 after buying an additional 177 shares in the last quarter. Comerica Bank bought a new stake in Woori Bank during the fourth quarter worth approximately $211,000. Northern Trust Corp raised its position in Woori Bank by 11.0% in the second quarter. Northern Trust Corp now owns 120,807 shares of the bank’s stock worth $5,884,000 after buying an additional 11,974 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Woori Bank by 15.2% in the second quarter. Parametric Portfolio Associates LLC now owns 234,009 shares of the bank’s stock worth $11,396,000 after buying an additional 30,860 shares in the last quarter. 0.27% of the stock is currently owned by hedge funds and other institutional investors.

About Woori Bank

Woori Finance Holdings Co, Ltd. is a financial holding company. The Company serves over 24 million corporate and retail customers with a range of financial services, including commercial banking, credit card, capital market, international banking, wealth management and bancassurance services. The Company’s domestic network consists of more than 1,300 branches and 8,500 cash terminals.

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