Westpac Banking Corp (NYSE:WBK) shares gapped down before the market opened on Friday . The stock had previously closed at $23.09, but opened at $23.13. Westpac Banking Corp shares last traded at $23.61, with a volume of 86,982 shares traded.

A number of brokerages have issued reports on WBK. Zacks Investment Research upgraded Westpac Banking Corp from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research report on Saturday, April 30th. Credit Agricole SA lowered Westpac Banking Corp from an “underperform” rating to a “sell” rating in a research report on Thursday, July 7th. Finally, Macquarie upgraded Westpac Banking Corp from a “neutral” rating to an “outperform” rating in a research report on Tuesday, May 24th.

The company has a 50 day moving average price of $22.13 and a 200-day moving average price of $22.35. The stock has a market cap of $78.48 billion and a P/E ratio of 12.95.

The company also recently declared a dividend, which was paid on Thursday, July 14th. Shareholders of record on Thursday, May 12th were issued 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.

An institutional investor recently raised its position in Westpac Banking Corp stock. TD Asset Management Inc. increased its position in Westpac Banking Corp (NYSE:WBK) by 8.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 43,706 shares of the company’s stock after buying an additional 3,340 shares during the period. TD Asset Management Inc.’s holdings in Westpac Banking Corp were worth $1,301,000 at the end of the most recent 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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