Shares of Westpac Banking Corp (NYSE:WBK) saw unusually-high trading volume on Thursday . Approximately 381,398 shares were traded during mid-day trading, an increase of 97% from the previous session’s volume of 193,465 shares.The stock last traded at $22.83 and had previously closed at $22.53.

WBK has been the subject of several analyst reports. Macquarie upgraded Westpac Banking Corp from a “neutral” rating to an “outperform” rating in a report on Tuesday, May 24th. Zacks Investment Research cut Westpac Banking Corp from a “buy” rating to a “hold” rating in a report on Friday, May 13th. Finally, Credit Agricole SA cut Westpac Banking Corp from an “underperform” rating to a “sell” rating in a report on Thursday, July 7th.

The firm has a market capitalization of $75.88 billion and a price-to-earnings ratio of 12.42. The company has a 50-day moving average price of $21.93 and a 200-day moving average price of $22.34.

The company also recently declared a dividend, which was paid on Thursday, July 14th. Shareholders of record on Thursday, May 12th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Tuesday, May 10th. This is an increase from Westpac Banking Corp’s previous dividend of $0.66.

A number of hedge funds have recently modified their holdings of WBK. Dimensional Fund Advisors LP boosted its stake 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 period. 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 valued at $1,244,000 after buying an additional 7,171 shares in 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 valued at $1,573,000 after buying an additional 7,013 shares in 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 valued at $3,804,000 after buying an additional 18,328 shares in 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 valued at $1,301,000 after buying an additional 3,340 shares in 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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