WF - Woori Financial: This High Yielder Is No Longer A Value Trap
2024-03-18 16:18:11 ET
Summary
- Woori Financial Group Inc. has long traded at a deep discount to its fundamentals.
- But a path to realizing value is finally taking shape.
- Patient investors also get to lock in some very attractive yields at current levels.
As one of Korea’s big banks, Woori Financial Group Inc. ( WF ) looks poised to benefit from some very powerful tailwinds ahead. The key to Korea’s trade-dependent economy has always been export growth and on this front, recent data points to a very positive rate of change; this, in turn, bodes well for near-term credit growth. There’s also an exciting new corporate ‘value-up’ initiative (à la Japan’s reforms ) being implemented that could benefit bank investors – both by narrowing the persistent book value discounts throughout the sector and ramping up shareholder returns....
Woori Financial: This High Yielder Is No Longer A Value Trap