US Bancorp DE decreased its position in shares of Westpac Banking Corporation (NYSE:WBK) by 29.7% during the second quarter, Holdings Channel reports. The firm owned 66,840 shares of the bank’s stock after selling 28,241 shares during the period. US Bancorp DE’s holdings in Westpac Banking Corporation were worth $1,563,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tompkins Financial Corp bought a new position in shares of Westpac Banking Corporation during the first quarter worth about $149,000. SG Americas Securities LLC bought a new position in shares of Westpac Banking Corporation during the first quarter worth about $162,000. Zevin Asset Management LLC bought a new position in shares of Westpac Banking Corporation during the first quarter worth about $200,000. Armor Investment Advisors LLC bought a new position in shares of Westpac Banking Corporation during the first quarter worth about $214,000. Finally, American Investment Services Inc. bought a new position in shares of Westpac Banking Corporation during the first quarter worth about $219,000. 0.58% of the stock is currently owned by hedge funds and other institutional investors.

Westpac Banking Corporation (NYSE WBK) traded down 0.43% during mid-day trading on Friday, hitting $25.20. The company had a trading volume of 219,726 shares. Westpac Banking Corporation has a 1-year low of $21.23 and a 1-year high of $27.05. The stock has a market capitalization of $84.36 billion, a PE ratio of 14.27 and a beta of 1.29. The stock has a 50 day moving average price of $24.11 and a 200-day moving average price of $24.85.

The company also recently disclosed a semiannual dividend, which was paid on Friday, July 14th. Investors of record on Thursday, May 18th were given a $0.689 dividend. This represents a yield of 5.72%. The ex-dividend date of this dividend was Tuesday, May 16th.

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A number of brokerages have recently issued reports on WBK. Goldman Sachs Group, Inc. (The) raised Westpac Banking Corporation from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 12th. BidaskClub raised Westpac Banking Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Citigroup Inc. raised Westpac Banking Corporation from a “sell” rating to a “neutral” rating in a research note on Wednesday, July 19th. ValuEngine raised Westpac Banking Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research cut Westpac Banking Corporation from a “buy” rating to a “sell” rating in a research note on Wednesday, May 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $29.00.

Westpac Banking Corporation Company Profile

Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services.

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Institutional Ownership by Quarter for Westpac Banking Corporation (NYSE:WBK)

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