A number of other equities analysts have also issued reports on WBK. Zacks Investment Research lowered shares of Westpac Banking from a buy rating to a hold rating in a research report on Saturday, February 2nd. JPMorgan Chase & Co. downgraded shares of Westpac Banking from an overweight rating to a neutral rating in a research note on Wednesday, February 6th. CLSA downgraded shares of Westpac Banking from an underperform rating to a sell rating in a research note on Monday, May 6th. Finally, Morgan Stanley downgraded shares of Westpac Banking from an equal weight rating to an underweight rating in a research note on Thursday, January 31st. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. Westpac Banking currently has a consensus rating of Hold and a consensus target price of $25.00.
Shares of NYSE:WBK traded down $0.32 during trading on Wednesday, reaching $19.23. The stock had a trading volume of 176,506 shares, compared to its average volume of 288,242. Westpac Banking has a 52 week low of $16.41 and a 52 week high of $22.35. The firm has a market cap of $66.70 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 9.09 and a beta of 0.98. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 3.21.
The company also recently announced a semiannual dividend, which will be paid on Friday, July 5th. Stockholders of record on Thursday, May 16th will be paid a $0.6581 dividend. The ex-dividend date is Wednesday, May 15th. This represents a dividend yield of 7%. Westpac Banking’s dividend payout ratio is presently 75.29%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC bought a new stake in Westpac Banking in the fourth quarter worth approximately $25,000. Avestar Capital LLC increased its position in Westpac Banking by 848.5% during the 1st quarter. Avestar Capital LLC now owns 1,859 shares of the bank’s stock valued at $33,000 after buying an additional 1,663 shares in the last quarter. Balentine LLC bought a new position in Westpac Banking during the 1st quarter valued at approximately $36,000. Osborn Williams & Donohoe LLC bought a new position in Westpac Banking during the 1st quarter valued at approximately $37,000. Finally, Zions Bancorporation N.A. bought a new position in Westpac Banking during the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 0.54% of the company’s stock.
About Westpac Banking
Westpac Banking Corporation provides various banking and financial services in Australia, New Zealand, Asia, the Pacific region, and internationally. It operates through five divisions: Consumer Bank, Business Bank, BT Financial Group, Westpac Institutional Bank, and Westpac New Zealand. It offers everyday banking, savings, term deposit, moving to Australia, under 21 and student, business one, community solutions one, not-for-profit savings, and foreign currency accounts; term and farm management deposits; debit, credit, and travel money cards; home, personal, investment, small business, and commercial loans; and equipment, automotive, cash flow, property, insurance premium, corporate and structured finance, and trade and supply chain financing services.
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