Youli Financial Holdings, en raison de mauvaises performances, le cours de l'action chute de 5 %… L'analyse du secteur des valeurs mobilières évoque une « dépense ponctuelle »

Woori Financial Holdings’ stock fell over 5% during the trading day on the 27th.
This was due to the first quarter’s performance significantly falling short of market expectations, leading investors to sell off in disappointment.

On the 27th, in the securities market, Woori Financial Holdings closed at 33,250 won, down 5.14% from the previous trading day, with a trading volume at 2:30 PM.
The stock price slightly declined by 0.14% at the open, then the decline widened, reaching as low as 33,100 won during the session, a drop of 5.56%.
Financial holding companies’ stock prices are usually sensitive to performance, capital adequacy ratio, and shareholder return policies, but this time the market’s initial reaction was to the lower-than-expected profit scale.

Woori Financial Holdings announced on the 24th that its net profit for the first quarter of this year was 6,038 billion won, a decrease of 2.1% year-on-year.
This was far below the market expectation of 8,150 billion won.
On a consolidated basis, operating profit was only 8,082 billion won, down 7% year-on-year, and 21.5% below market expectations.
Especially among the five major financial holding companies—KB, Shinhan, Hana, NH NongHyup, and Woori—only Woori Financial Holdings saw a decrease in net profit, which was interpreted as further dampening investor sentiment.

However, some in the securities industry also believe that it is premature to judge the company’s value solely based on its superficial poor performance.
Samsung Securities analyst Kim Jae-woo stated that the profit decline was largely influenced by one-time expenses.
In fact, core profitability, reflected by interest income, increased by 2.3% year-on-year, and non-interest income, including fees, grew by 26.6%.
This means that after excluding one-time expenses, the recurring profit flow from its main business is not bad.

The company’s capital strength also received positive evaluations.
Woori Financial Holdings’ common equity Tier 1 capital adequacy ratio (CET1, the core capital ratio that can absorb losses in a crisis) for the first quarter was 13.6%.
The higher this figure, the more room there is to implement shareholder return policies such as dividends or stock buybacks.
Based on this, Samsung Securities raised its expected shareholder return rate for this year from 41% to 45%, and its target stock price from 44,000 won to 45,000 won, also upgrading its investment opinion to “buy.”
DB Securities analyst Roh Min-sook maintained a target price of 48,000 won and a buy recommendation, commenting that although the current performance is disappointing, the increased capital ratio and growth potential are positive.

Ultimately, while the market reacted in the short term to the underwhelming performance, the medium to long term also shows an atmosphere of considering both capital adequacy and the potential expansion of shareholder returns.
This trend indicates that in the future, how Woori Financial Holdings quickly eliminates the impact of one-time expenses and how it effectively converts improved capital strength into dividends and stock buybacks could lead to a change in its stock price direction.