Westpac Banking Corp (WBK) Given Consensus Recommendation of “Hold” by Brokerages

Westpac Banking Corp (NYSE:WBK) has been given an average rating of “Hold” by the eight research firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company.

Several analysts have recently weighed in on WBK shares. ValuEngine downgraded shares of Westpac Banking from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. Macquarie downgraded shares of Westpac Banking from an “outperform” rating to a “neutral” rating in a research note on Friday, August 17th. Finally, Zacks Investment Research reaffirmed a “sell” rating on shares of Westpac Banking in a research note on Saturday, June 30th.

Westpac Banking stock opened at $20.05 on Thursday. Westpac Banking has a fifty-two week low of $19.45 and a fifty-two week high of $26.38. The company has a market cap of $67.49 billion, a PE ratio of 11.46 and a beta of 1.32.

Several institutional investors have recently bought and sold shares of WBK. Summit Trail Advisors LLC raised its stake in shares of Westpac Banking by 1,994.8% during the first quarter. Summit Trail Advisors LLC now owns 130,901 shares of the bank’s stock valued at $131,000 after acquiring an additional 124,652 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Westpac Banking by 526.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,075 shares of the bank’s stock valued at $131,000 after buying an additional 3,424 shares during the period. Atlas Capital Advisors LLC purchased a new position in Westpac Banking during the second quarter valued at approximately $183,000. BTC Capital Management Inc. purchased a new position in Westpac Banking during the second quarter valued at approximately $203,000. Finally, United Capital Financial Advisers LLC purchased a new position in Westpac Banking during the first quarter valued at approximately $221,000. 0.57% of the stock is owned by hedge funds and other institutional investors.

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, community solutions one, not-for-profit savings, and foreign currency accounts; term, tailor-made, and farm management deposits; debit, credit, and travel money cards; home, personal, investment, small business, and commercial loans; and equipment, automotive, cash flow, property, and insurance premium financing services.

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Analyst Recommendations for Westpac Banking (NYSE:WBK)

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