Westpac Banking Corp (NYSE:WBK) shares gapped down prior to trading on Tuesday . The stock had previously closed at $21.79, but opened at $22.09. Westpac Banking Corp shares last traded at $22.67, with a volume of 80,598 shares.

WBK has been the topic of several recent research reports. Credit Agricole SA lowered shares of Westpac Banking Corp from an “underperform” rating to a “sell” rating in a research report on Thursday, July 7th. Zacks Investment Research raised shares of Westpac Banking Corp from a “hold” rating to a “strong-buy” rating and set a $27.00 price objective for the company in a research note on Saturday, April 30th. Finally, Macquarie raised shares of Westpac Banking Corp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 24th.

The company has a 50-day moving average price of $21.87 and a 200-day moving average price of $22.34. The stock has a market capitalization of $75.02 billion and a PE ratio of 12.35.

The business also recently announced a dividend, which will be paid on Thursday, July 14th. Stockholders of record on Thursday, May 12th will be given a dividend of $0.71 per share. This is a positive change from Westpac Banking Corp’s previous dividend of $0.66. The ex-dividend date is Tuesday, May 10th.

Other institutional investors recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Westpac Banking Corp by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 492,333 shares of the company’s stock worth $11,929,000 after buying an additional 14,962 shares during the last quarter. Comerica Bank raised its position in shares of Westpac Banking Corp by 11.4% in the fourth quarter. Comerica Bank now owns 179,374 shares of the company’s stock worth $3,804,000 after buying an additional 18,328 shares during the last quarter. Todd Asset Management LLC raised its position in shares of Westpac Banking Corp by 12.1% in the fourth quarter. Todd Asset Management LLC now owns 64,940 shares of the company’s stock worth $1,573,000 after buying an additional 7,013 shares during the last quarter. Wetherby Asset Management Inc. raised its position in shares of Westpac Banking Corp by 16.2% in the fourth quarter. Wetherby Asset Management Inc. now owns 51,341 shares of the company’s stock worth $1,244,000 after buying an additional 7,171 shares during the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Westpac Banking Corp by 8.3% in the fourth quarter. TD Asset Management Inc. now owns 43,706 shares of the company’s stock worth $1,301,000 after buying an additional 3,340 shares during the last quarter.

Westpac Banking Corporation is a banking organization. The Company provides banking and financial services in markets, including consumer, business and institutional banking and wealth management services. It has three segments: Australian Financial Services (AFS), Westpac Institutional Bank (WIB) and Westpac New Zealand.

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