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 research note issued on Saturday, July 22nd. The brokerage currently has a $56.00 price objective on the bank’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.97% 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. “

Woori Bank (WF) traded down 0.68% during mid-day trading on Friday, reaching $48.29. 12,502 shares of the company’s stock traded hands. Woori Bank has a 12 month low of $27.28 and a 12 month high of $53.50. The company has a 50 day moving average price of $49.94 and a 200-day moving average price of $41.86.

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Several institutional investors have recently made changes to their positions in WF. GRATRY & Co LLC bought a new position in shares of Woori Bank during the second quarter worth approximately $297,000. Dimensional Fund Advisors LP boosted its position in shares of Woori Bank by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 31,778 shares of the bank’s stock worth $1,547,000 after buying an additional 177 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of 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 during the period. Northern Trust Corp boosted its position in shares of 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 during the period. Finally, Comerica Bank bought a new position in shares of Woori Bank during the fourth quarter worth approximately $211,000. Hedge funds and other institutional investors own 0.26% of the company’s stock.

Woori Bank Company Profile

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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