Westpac Banking Corp (NYSE:WBK)’s share price traded down 2.7% during mid-day trading on Friday . The stock traded as low as $22.60 and last traded at $22.62, with a volume of 247,511 shares trading hands. The stock had previously closed at $23.25.

A number of equities research analysts have recently commented on WBK shares. JPMorgan Chase & Co. cut shares of Westpac Banking Corp from an “overweight” rating to a “neutral” rating in a report on Thursday. Zacks Investment Research raised shares of Westpac Banking Corp from a “sell” rating to a “buy” rating and set a $26.00 target price for the company in a report on Wednesday, July 27th. Credit Agricole SA cut shares of Westpac Banking Corp from an “underperform” rating to a “sell” rating in a report on Thursday, July 7th. Finally, Macquarie raised shares of Westpac Banking Corp from a “neutral” rating to an “outperform” rating in a report on Tuesday, May 24th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $26.00.

The firm has a market capitalization of $75.38 billion and a price-to-earnings ratio of 12.17. The company’s 50 day moving average price is $22.56 and its 200 day moving average price is $22.47.

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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