Westpac Banking Corp (WBK) Shares Gap Up to $22.88
Westpac Banking Corp (NYSE:WBK)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $22.71, but opened at $22.88. Westpac Banking Corp shares last traded at $23.20, with a volume of 85,179 shares traded.
WBK has been the topic of a number of research analyst reports. Zacks Investment Research upgraded 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. Credit Agricole SA downgraded shares of Westpac Banking Corp from an “underperform” rating to a “sell” rating in a research note on Thursday, July 7th. 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 stock’s 50-day moving average price is $22.08 and its 200-day moving average price is $22.32. The firm has a market cap of $77.48 billion and a PE ratio of 12.73.
The company also recently declared a dividend, which was paid on Thursday, July 14th. Shareholders of record on Thursday, May 12th were paid a dividend of $0.71 per share. The ex-dividend date was Tuesday, May 10th. This is a positive change from Westpac Banking Corp’s previous dividend of $0.66.
Other large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake 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 valued at $11,929,000 after buying an additional 14,962 shares in the last quarter. Comerica Bank boosted its stake in 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. boosted its stake 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 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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