Westpac Banking Corp (WBK) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in Westpac Banking Corp (NYSE:WBK) by 32.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 94,284 shares of the bank’s stock after buying an additional 23,211 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Westpac Banking Corp were worth $2,519,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Tompkins Financial Corp bought a new stake in Westpac Banking Corp during the first quarter worth $149,000. Zevin Asset Management LLC bought a new stake in Westpac Banking Corp during the first quarter worth $200,000. Susquehanna International Group LLP bought a new stake in Westpac Banking Corp during the third quarter worth $214,000. Armor Investment Advisors LLC bought a new stake in Westpac Banking Corp during the first quarter worth $214,000. Finally, American Investment Services Inc. bought a new stake in Westpac Banking Corp during the first quarter worth $219,000. 0.49% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Westpac Banking Corp (NYSE:WBK)

Shares of Westpac Banking Corp (NYSE:WBK) traded up 0.69% during trading on Friday, hitting $23.23. 270,817 shares of the stock were exchanged. The firm has a 50 day moving average of $25.44 and a 200-day moving average of $24.84. Westpac Banking Corp has a 12-month low of $20.32 and a 12-month high of $27.05. The company has a market cap of $77.77 billion, a price-to-earnings ratio of 13.98 and a beta of 1.31.

The company also recently disclosed a semiannual dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, May 18th will be paid a dividend of $0.689 per share. This represents a yield of 5.72%. The ex-dividend date is Tuesday, May 16th.

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A number of research firms have weighed in on WBK. Zacks Investment Research raised shares of Westpac Banking Corp from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Tuesday, March 7th. Macquarie cut shares of Westpac Banking Corp from an “outperform” rating to a “neutral” rating in a report on Tuesday, May 9th.

About Westpac Banking Corp

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.

12 Month Chart for NYSE:WBK

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