Woori Financial Group Inc. Experiences Spike in Short Interest

Woori Financial Group Inc. (NYSE:WF) experienced a significant rise in short interest during the month of October. As of October 15th, short interest amounted to 77,600 shares, reflecting an impressive increase of 58.4% compared to the 49,000 shares reported on September 30th. Given the stock's average daily trading volume of 71,700 shares, the current short-interest ratio stands at approximately 1.1 days.

Woori Financial Group Stock Performance

On Friday, WF stock increased by $0.57, closing at $36.79. During the trading session, 48,134 shares changed hands, which is somewhat lower than its average trading volume of 58,362 shares. Financially, the company shows a current ratio of 0.12, a quick ratio of 0.12, and a debt-to-equity ratio of 0.86. Woori Financial Group has a total market capitalization of $9.11 billion, with a price-to-earnings ratio of 5.16 and a P/E/G ratio of 0.43. The stock's beta value is 1.05, indicating volatility compared to the market. Over the past year, the stock has seen a low of $26.16 and a high of $38.05, while its fifty-day and 200-day moving averages stand at $36.10 and $33.37, respectively.

Recent Earnings Announcement

Woori Financial Group (NYSE:WF) announced its quarterly earnings on August 14th. The bank reported earnings of $2.53 per share, exceeding the expected consensus of $2.18 by $0.35. Total revenue for the quarter reached $2.06 billion. The bank boasts a return on equity of 7.86% and a net margin of 11.48%. Analysts predict that Woori Financial Group will achieve an EPS of 8.21 for the current fiscal year.

Institutional Investors Activity

In recent months, several institutional investors and hedge funds have modified their holdings in Woori Financial Group. Ballentine Partners LLC increased its stake by 14.4% during the third quarter, now owning 29,797 shares valued at approximately $1,065,000 after acquiring an additional 3,744 shares. Signaturefd LLC also lifted its position by 1.5%, owning 44,110 shares worth $1,576,000 after purchasing 653 new shares. Additionally, Allspring Global Investments Holdings LLC acquired a new stake valued at $60,000 during the third quarter. Blue Trust Inc. significantly raised its stake by 232.8%, bringing its total to 36,131 shares valued at $1,291,000. Creative Planning increased its holdings by 29.4%, owning 155,822 shares valued at roughly $5,568,000. Currently, institutional investors and hedge funds account for 17.79% of the company’s stock.

Company Overview

Woori Financial Group Inc. operates as a financial holding company and commercial bank, providing a wide range of financial products and services to individuals, corporations, as well as small and medium-sized enterprises in Korea. Its offerings include banking services, credit card operations, capital, investment banking, and more.

Conclusion

The surge in short interest of Woori Financial Group indicates a marked change in market sentiment. Investors should stay informed and consider the performances and recommendations of top-rated analysts before making investment decisions.

Woori, Financial, Stocks