Woori Financial Group Inc. Stock 12‑Month Price Target Raised to $93.99, Implies 33% Upside

Woori Financial reported Q3 earnings, highlighting KRW 27 trillion in productive lending, record non-interest income of KRW 1.6444 trillion, and a 13.8% CET1 ratio. The company plans to focus on high-quality lending, AI integration, and cost synergies from insurance acquisitions. Credit costs fell 15.7% YoY, and a KRW 221 per share dividend was approved.

Woori Financial Group (WF) reported Q3 2026 net income of KRW 1.0492 trillion, up 4.4% QoQ, with YTD net income rising 19% YoY. Record interest and non-interest income was offset by a 7 bps NIM decline. Credit costs fell 28.5% QoQ, and the CET1 ratio improved to 13.8%. Non-bank subsidiaries contributed 60% of non-interest income. Loan growth was modest at 1.52% QoQ, and the dividend yield stands at 2.2%.

Woori Financial Group reported Q3 2026 net income of KRW 1.049 trillion, up 4.4% from Q2, marking two consecutive quarters above KRW 1 trillion. Year-to-date net income rose 18.7% YoY to KRW 2.658 trillion, excluding a KRW 556 billion gain. Despite margin pressure, operating income grew 19.5% YoY to KRW 3.543 trillion, driven by interest and non-interest income growth. Shares fell 2.57% to $67.39 on concerns about a 7-basis-point sequential decline in net interest margin.

Woori Financial Group reported a 43.6% YoY increase in Q3 2026 operating income to KRW 1.419 trillion, but net income fell 15.7% to KRW 1.049 trillion. Sales rose 66.2% YoY to KRW 13.301 trillion. For the first nine months, operating income increased 19.5% to KRW 3.543 trillion, while net income declined 4.9% to KRW 2.658 trillion. Shares closed down 3.7% on Friday.

State Street (STT) shares fell 6.4% in pre-market trading after Q3 results showed adjusted earnings of $3.69 per share, beating estimates, but sales missed expectations at $4.004 billion. Other stocks moving lower include Biomea Fusion (BMEA), Fastenal (FAST), and Bank of America (BAC).

POSCO sold its 20.28M shares in Woori Financial Group for ₩676.5B ($497.8M), a 4.3% discount to the prior close. The sale, led by BofA, HSBC, and Samsung Securities, generated a 160% gain. Woori shares fell 4.87% on the news. POSCO aims to monetize assets for future growth.