Shares of Westpac Banking Corp (NYSE:WBK) dropped 2.7% during trading on Friday . The company traded as low as $22.60 and last traded at $22.62, with a volume of 247,511 shares changing hands. The stock had previously closed at $23.25.

WBK has been the subject of a number of research analyst reports. Zacks Investment Research raised Westpac Banking Corp from a “sell” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Wednesday, July 27th. JPMorgan Chase & Co. downgraded Westpac Banking Corp from an “overweight” rating to a “neutral” rating in a research report on Thursday. Macquarie raised Westpac Banking Corp from a “neutral” rating to an “outperform” rating in a research report on Tuesday, May 24th. Finally, Credit Agricole SA downgraded Westpac Banking Corp from an “underperform” rating to a “sell” rating in a research report on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Westpac Banking Corp currently has a consensus rating of “Hold” and an average target price of $26.00.

The stock has a market capitalization of $75.38 billion and a price-to-earnings ratio of 12.22. The stock has a 50 day moving average price of $22.56 and a 200-day moving average price of $22.48.

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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