Westpac Banking Corp (NYSE:WBK) gapped up prior to trading on Wednesday . The stock had previously closed at $22.55, but opened at $22.57. Westpac Banking Corp shares last traded at $22.76, with a volume of 38,777 shares trading hands.

A number of research analysts have commented on WBK shares. Credit Agricole SA cut shares of Westpac Banking Corp from an “underperform” rating to a “sell” rating in a research note on Thursday, July 7th. Zacks Investment Research upgraded shares of Westpac Banking Corp from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research note on Saturday, April 30th. Finally, Macquarie upgraded 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 $21.98 and a 200 day moving average price of $22.31. The firm has a market capitalization of $75.81 billion and a PE ratio of 12.31.

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

A number of institutional investors have made changes to their positions in WBK. TD Asset Management Inc. boosted 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 during the period. Todd Asset Management LLC boosted 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 during the period. Comerica Bank boosted 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 during the period. Finally, Dimensional Fund Advisors LP boosted 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 valued at $11,929,000 after buying an additional 14,962 shares during the period.

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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