Westpac Banking Corp (NYSE:WBK) shares gapped up before the market opened on Tuesday . The stock had previously closed at $22.62, but opened at $22.93. Westpac Banking Corp shares last traded at $23.24, with a volume of 45,727 shares trading hands.

Several research analysts recently commented on the company. JPMorgan Chase & Co. downgraded Westpac Banking Corp from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 11th. Credit Agricole SA downgraded Westpac Banking Corp from an “underperform” rating to a “sell” rating in a research note on Thursday, July 7th. Zacks Investment Research raised Westpac Banking Corp from a “sell” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Wednesday, July 27th. Finally, Macquarie raised Westpac Banking Corp from a “neutral” rating to an “outperform” rating in a research note on Tuesday, May 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Westpac Banking Corp presently has an average rating of “Hold” and an average price target of $26.00.

The stock has a market capitalization of $76.87 billion and a PE ratio of 12.3508. The company’s 50-day moving average is $22.88 and its 200-day moving average is $22.58.

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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