Westpac Banking Corp (WBK) Shares Gap Down to $22.79
Westpac Banking Corp (NYSE:WBK) gapped down before the market opened on Thursday . The stock had previously closed at $22.78, but opened at $22.79. Westpac Banking Corp shares last traded at $22.84, with a volume of 49,845 shares traded.
WBK has been the topic of several recent analyst reports. Credit Agricole SA lowered shares of Westpac Banking Corp from an “underperform” rating to a “sell” rating in a research note 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 target price on the stock 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 stock has a market cap of $75.81 billion and a price-to-earnings ratio of 12.29. The stock has a 50 day moving average of $22.00 and a 200-day moving average of $22.31.
The business also recently declared a dividend, which was paid on Thursday, July 14th. Investors of record on Thursday, May 12th were given a $0.71 dividend. The ex-dividend date of this dividend was Tuesday, May 10th. This is a positive change from Westpac Banking Corp’s previous dividend of $0.66.
A number of hedge funds and institutional investors have bought and sold shares of the stock. TD Asset Management Inc. raised its position in 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 in the last quarter. Todd Asset Management LLC raised its position in 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 in the last quarter. Comerica Bank raised its position in 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in 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 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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