Westpac Banking Corp (WBK) Given Average Rating of “Hold” by Analysts

Westpac Banking Corp (NYSE:WBK) has been assigned an average rating of “Hold” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company.

A number of research firms have commented on WBK. Zacks Investment Research lowered Westpac Banking from a “buy” rating to a “hold” rating in a research note on Tuesday, October 24th. ValuEngine lowered Westpac Banking from a “buy” rating to a “hold” rating in a research note on Thursday, November 30th. Finally, Credit Suisse Group lowered Westpac Banking from an “outperform” rating to a “neutral” rating in a research note on Monday, November 6th.

Shares of Westpac Banking (WBK) traded up $0.06 during midday trading on Monday, hitting $24.15. The stock had a trading volume of 122,400 shares, compared to its average volume of 190,589. The company has a market capitalization of $81,960.00, a price-to-earnings ratio of 13.64, a P/E/G ratio of 3.35 and a beta of 1.34. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.26 and a current ratio of 1.26. Westpac Banking has a one year low of $22.17 and a one year high of $27.05.

The business also recently disclosed a None dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, November 13th will be paid a dividend of $0.717 per share. This represents a yield of 5.82%. The ex-dividend date of this dividend is Friday, November 10th. This is a positive change from Westpac Banking’s previous None dividend of $0.71. Westpac Banking’s dividend payout ratio (DPR) is 80.23%.

Institutional investors have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in Westpac Banking by 402.4% during the 2nd quarter. Royal Bank of Canada now owns 820,458 shares of the bank’s stock worth $19,198,000 after acquiring an additional 657,161 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Westpac Banking by 32.5% in the 3rd quarter. Advisors Asset Management Inc. now owns 66,381 shares of the bank’s stock valued at $1,674,000 after purchasing an additional 16,293 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of Westpac Banking by 24.2% in the 2nd quarter. Stifel Financial Corp now owns 35,948 shares of the bank’s stock valued at $842,000 after purchasing an additional 6,995 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Westpac Banking in the 2nd quarter valued at $299,000. Finally, Guardian Capital Advisors LP boosted its holdings in shares of Westpac Banking by 3.9% in the 3rd quarter. Guardian Capital Advisors LP now owns 150,120 shares of the bank’s stock valued at $3,944,000 after purchasing an additional 5,600 shares in the last quarter. Hedge funds and other institutional investors own 0.61% of the company’s stock.

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About Westpac Banking

Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services.

Analyst Recommendations for Westpac Banking (NYSE:WBK)

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